Economics
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- 10 Feb 2022
- Research & Ideas
Why Are Prices So High Right Now—and Will They Ever Return to Normal?
And when will sold-out products return to store shelves? The answers aren't so straightforward. Research by Alberto Cavallo probes the complex interplay of product shortages, prices, and inflation. Open for comment; 0 Comments.

- 11 Jan 2022
- Cold Call Podcast
Can Entrepreneurs and Governments Team Up to Solve Big Problems?
In 2017, Shield AI’s quadcopter, with no pilot and no flight plan, could clear a building and outpace human warfighters by almost five minutes. It was evidence that autonomous robots could help protect civilian and service member lives. But was it also evidence that Shield AI—a startup barely two years past founding—could ask their newest potential customer, the US government, for a large contract for a system of coordinated, exploring robots? Or would it scare them away? Harvard Business School professor Mitch Weiss and Brandon Tseng, Shield AI’s CGO and co-founder, discuss these and other challenges entrepreneurs face when working with the public sector, and how investing in new ideas can enable entrepreneurs and governments to join forces and solve big problems in the case, “Shield AI.” Open for comment; 0 Comments.

- 06 May 2021
- HBS Case
How Four Women Made Miami More Equitable for Startups
A case study by Rosabeth Moss Kanter examines what it takes to break gender barriers and build thriving businesses in an emerging startup hub. Open for comment; 0 Comments.

- 20 Apr 2021
- Working Paper Summaries
The Emergence of Mafia-like Business Systems in China
This study sheds light on the political pathology of fraudulent, illegal, and corrupt business practices. Features of the Chinese system—including regulatory gaps, a lack of formal means of property protection, and pervasive uncertainty—seem to facilitate the rise of mafia systems.

- 02 Feb 2021
- Working Paper Summaries
Nonprofits in Good Times and Bad Times
Tax returns from millions of US nonprofits reveal that charities do not expand during bad times, when need is the greatest. Although they are able to smooth the swings of their activities more than for-profit organizations, nonprofits exhibit substantial sensitivity to economic cycles.

- 01 Feb 2021
- What Do You Think?
Has the New Economy Finally Arrived?
Economists have long tied low unemployment to inflation. James Heskett considers whether the US economic policy of the past four years has shaken those assumptions. Open for comment; 0 Comments.

- 06 Jan 2021
- Working Paper Summaries
Aggregate Advertising Expenditure in the US Economy: What's Up? Is It Real?
We analyze total United States advertising spending from 1960 to 2018. In nominal terms, the elasticity of annual advertising outlays with respect to gross domestic product appears to have increased substantially beginning in the late 1990s, roughly coinciding with the dramatic growth of internet-based advertising.

- 11 Dec 2020
- Research & Ideas
Economic Jitters Push Pandemic Job Seekers to Big Companies, Not Startups
Small companies are receiving fewer applications, particularly from experienced professionals, according to research by Shai Bernstein and colleagues. How can startups overcome pandemic fears and compete for talent? Open for comment; 0 Comments.

- 08 Dec 2020
- Working Paper Summaries
Party-State Capitalism in China
China’s political economy has evolved from “state capitalism” to a distinctly party-driven incarnation. Party-state capitalism, via enhanced party monitoring and industrial policy, deepens ambiguity between the state and private sectors, and increases pressure on foreign capital, prioritizing the regime’s political survival above all.

- 23 Nov 2020
- Research & Ideas
COVID Was Supposed to Increase Bankruptcies. Instead, They've Gone Down.
Down economic cycles and increasing unemployment usually usher in a rise in bankruptcies. Not so in the COVID-19 recession, where just the reverse has happened. Research by Raymond Kluender and colleagues. Open for comment; 0 Comments.

- 24 Sep 2020
- Research & Ideas
Financial Meltdowns Are More Predictable Than We Thought
Robin Greenwood and Samuel G. Hanson discuss new research that shows economic crises follow predictable patterns. Open for comment; 0 Comments.

- 08 Sep 2020
- Sharpening Your Skills
Capitalism Works Better When I Can See What You're Doing
Lower prices. More innovation. Better government. Transparency fuels the basic principles of competitive business and open government. Well, most of the time. Open for comment; 0 Comments.

- 01 Sep 2020
- Working Paper Summaries
Transaction Cost Economics in the Digital Economy: A Research Agenda
The increasing dominance of the digital economy has brought new questions about the interplay of organizations and the market-based ecosystem. Transaction Cost Economics theory is a useful lens to understand firm organization and possibly guide policy and regulation.

- 23 Jul 2020
- Research & Ideas
How Countries Use Financial Policy to Fight COVID-19
Developing countries have fewer fiscal tools and policy options to combat COVID-19 damage to their economies, according to research by Alberto Cavallo and colleagues. Open for comment; 0 Comments.

- 12 Jul 2020
- Working Paper Summaries
Sticky Capital Controls
One of the legacies of the 2007–2008 global financial crisis has been a reassessment of the potential for restriction of capital flows policies. This paper documents a set of stylized facts on capital controls along their intensive and extensive margins for emerging markets and document them to be “sticky.” We then rationalize them through a model that includes fixed cost of implementing such policies, which lower the welfare gains of implementation.

- 10 Jul 2020
- Working Paper Summaries
Making Economics More Useful: How Technological Eclecticism Could Help
This paper shows how tools, such as simulations used to design new technologies, can facilitate collaborative economic policy judgments. The paper forms part of a broader, ongoing study of knowledge in practical fields such as engineering, medicine, and business.

- 09 Jul 2020
- Working Paper Summaries
How Should US Bank Regulators Respond to the COVID-19 Crisis?
Instead of the "watchful waiting" approach taken by US bank regulators to the pandemic crisis, they should use their prudential authorities to encourage banks to increase their equity capital. This is effectively a way of buying low-cost insurance against adverse scenarios that have become more likely.

- 07 Jul 2020
- Working Paper Summaries
Predictable Financial Crises
One central issue in the study of macroeconomic stability is financial crisis predictability. This paper estimates the probability of financial crises as a function of past credit and asset price growth.

- 02 Jul 2020
- Working Paper Summaries
Inflation with COVID Consumption Baskets
Examining the impact that changes in expenditure patterns are having on the measurement of consumer price indices (CPI) inflation in 17 countries, this study finds that the cost of living for the average consumer is higher than estimated by the official CPI. This implies that real consumption is falling more quickly over time.
War in Ukraine: Soaring Gas Prices and the Return of Stagflation?
With nothing left to lose, Russia's invasion of Ukraine will likely intensify, roiling energy markets further and raising questions about the future of globalization, says Rawi Abdelal. Open for comment; 0 Comments.