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    Cold Call
    A podcast featuring faculty discussing cases they've written and the lessons they impart.
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    • 03 Dec 2019
    • Cold Call Podcast

    Why CalSTRS Chooses to Engage with the Gun Industry

    Should large institutional investors divest or engage if they have an issue with a company? In a recent case study, Vikram Gandhi discusses how CalSTRS, the $200 billion pension plan for California public school teachers, chose to engage with gun makers and retailers.  Open for comment; 0 Comment(s) posted.

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    Page 1 of 9 Results
    • 27 Jun 2019
    • Working Paper Summaries

    The Effect of Payment Choices on Online Retail: Evidence from the 2016 Indian Demonetization

    by Chaithanya Bandi, Toni Moreno, Donald Ngwe, and Zhiji Xu

    Online sellers in many emerging markets are in the early stages of a shift from cash-based payments to digital payments. Findings from this study of a leading Indian online retailer show that firms may enjoy gains from consumer demand on top of operational gains resulting from payment digitization.

    • 29 Apr 2019
    • Research & Ideas

    Is the Digital Age Making Us Petty?

    by Kristen Senz

    Mobile payment apps help us keep track of shared costs but may also frustrate personal relationships. Research into perceived pettiness by Tami Kim, Ting Zhang, and Michael I. Norton. Open for comment; Comment(s) posted.

    • 14 Dec 2017
    • Working Paper Summaries

    The Real Exchange Rate, Innovation and Productivity

    by Laura Alfaro, Alejandro Cuñat, Harald Fadinger, and Yanping Liu

    Addressing debates on the effects of real exchange rate (RER) movements on the economy, this study examines manufacturing firm-level effects of medium-term fluctuations, in particular firm-level productivity across a wide range of countries. RER changes have different impacts depending on the export and import orientation of regions and the prevalence of credit constraints. Effects are non-linear and asymmetric, suggesting that the link between RER changes and macroeconomic performance might be much more nuanced than usually thought.

    • 02 Oct 2017
    • What Do You Think?

    Do Bitcoin and Digital Currency Have a Future?

    by James L. Heskett

    SUMMING UP Bitcoin has shown to be a powerful digital currency, but the real story of the future is Blockchain, say James Heskett's readers. Open for comment; Comment(s) posted.

    • 15 Sep 2017
    • Working Paper Summaries

    Debt Redemption and Reserve Accumulation

    by Laura Alfaro and Fabio Kanczuk

    This study examines how reserve accumulation affects governments’ decisions to default. The analysis assumes that countries can accumulate reserves and borrow internationally using their own currency. Results suggest that the optimal level of international reserves is fairly large because their cost is mitigated by valuation-smoothing gains. The model matches some features of Brazil’s economic fluctuations.

    • 26 Jun 2017
    • Working Paper Summaries

    Inventory Management for Mobile Money Agents in the Developing World

    by Karthik Balasubramanian, David F. Drake, and Douglas Fearing

    Mobile money agents in the developing world face a key inventory management challenge: How much cash and e-float should be held to minimize both stockouts and excess working capital? The authors develop two inventory models and show substantial inventory cost reduction with a large dataset of East African mobile money transactions.

    • 17 Nov 2016
    • Working Paper Summaries

    Sovereign Risk, Currency Risk, and Corporate Balance Sheets

    by Wenxin Du and Jesse Schreger

    Why would a country default on its sovereign debt when the government could instead inflate it away? The authors argue that a government is more inclined to default than inflate when the currency mismatch of the corporate sector implies large adverse balance sheet effects from a currency depreciation. To make this argument they construct a dataset on the currency composition of emerging market external borrowing. Results show that the corporate sector relies on external foreign currency debt even as sovereigns have swiftly moved toward borrowing in their own currency.

    • 06 Dec 2011
    • Op-Ed

    Greater Fiscal Integration Best Solution for Euro Crisis

    by Dante Roscini

    Ministers and central bankers are working to solve the debt crisis that threatens the European integration project. Is there hope? There is reason to be optimistic, according to Harvard Business School's Dante Roscini, a former investment banker. Open for comment; 1 Comment(s) posted.

    • 16 Dec 2009
    • Working Paper Summaries

    The End of Chimerica

    by Niall Ferguson & Moritz Schularick

    Economic historians Niall Ferguson and Moritz Schularick of Freie Universität Berlin consider the problem of global imbalances and try to set events in a longer-term perspective. First published in 2009. Closed for comment; 0 Comment(s) posted.

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