Business, Government & the International Economy
-
- January 2025
- Case
Liz Truss and the Thatcher Legacy: Markets and Fiscal Dominance in the United Kingdom
By: Rafael Di Tella, Pablo Ottonello and David Allen- January 2025
- Case
Liz Truss and the Thatcher Legacy: Markets and Fiscal Dominance in the United Kingdom
By: Rafael Di Tella, Pablo Ottonello and David Allen -
- 2024
- Working Paper
Fiscal Shortfalls, Financialization, and the Private Sector
By: Jaya Y. Wen, Haichao Fan, Guanchun Liu and Huanhuan Wang- 2024
- Working Paper
Fiscal Shortfalls, Financialization, and the Private Sector
By: Jaya Y. Wen, Haichao Fan, Guanchun Liu and Huanhuan Wang -
- December 2024
- Article
Large Shocks Travel Fast
By: Alberto Cavallo, Francesco Lippi and Ken MiyaharaWe document a sizeable increase in the frequency of price adjustments following the large energy shocks of 2022. We use a tractable New Keynesian model, calibrated to the pre-shock data, to interpret such a pattern. The calibration highlights the state-dependence of firms' decisions: prices are adjusted rapidly when markups are misaligned. In the model, a large cost shock triggers a swift increase in the frequency of price adjustments, causing a rapid pass-through from costs to prices. Time-dependent models, such as the Calvo model, miss this frequency response, failing to capture the sudden inflation surge after a large shock.
- December 2024
- Article
Large Shocks Travel Fast
By: Alberto Cavallo, Francesco Lippi and Ken MiyaharaWe document a sizeable increase in the frequency of price adjustments following the large energy shocks of 2022. We use a tractable New Keynesian model, calibrated to the pre-shock data, to interpret such a pattern. The calibration highlights the state-dependence of firms' decisions: prices are adjusted rapidly when markups are misaligned. In the...
About the Unit
The BGIE Unit conducts research on, and teaches about, the economic, political, social, and legal environment in which business operates. The Unit includes scholars trained in economics, political science, and history; in its work, it draws on perspectives from all three of these disciplines.
The following demonstrates one way of classifying the approaches the Unit takes to learning and teaching.
- The Unit examines the “rules” and policies established by government and other non-business institutions that affect business in the United States.
- The Unit turns to history to understand the origins of today’s business environment as well as some of the alternatives that have emerged from time to time.
- The Unit examines other countries’ business environments and their historical development.
- The BGIE group is deeply interested in the impact of globalization and the way rules are emerging to govern international economic transactions as globalization proceeds.
Recent Publications
U.S. and Global Agriculture: The Next Four Years
- January 2025 |
- Technical Note |
- Faculty Research
Liz Truss and the Thatcher Legacy: Markets and Fiscal Dominance in the United Kingdom
- January 2025 |
- Case |
- Faculty Research
Comparative Politics Seminar
- 2025 |
- Conference Presentation |
- Faculty Research
Tuesday Seminar Series
- 2024 |
- Conference Presentation |
- Faculty Research
Seminario Politica y Gobierno
- 2024 |
- Conference Presentation |
- Faculty Research
Governance & Development Seminar Series
- 2024 |
- Conference Presentation |
- Faculty Research
Seminario de Ciencia Politica
- 2024 |
- Conference Presentation |
- Faculty Research
Fiscal Shortfalls, Financialization, and the Private Sector
- 2024 |
- Working Paper |
- Faculty Research
Harvard Business Publishing
Seminars & Conferences
There are no upcoming events.