Macroeconomics
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- 10 Feb 2016
- Working Paper Summaries
Land Institutions and Chinese Political Economy: Institutional Complementarities and Macroeconomic Management
This paper shows the ways in which the Chinese Communist Party (CCP) has used land as a policy tool. CCP leaders intentionally reorganized fiscal, financial, and land institutions to put land at the center of local government finances in the mid-1990s. Since the late 1990s, the CCP has used the land supply as a key tool of macroeconomic expansion and contraction. Local officials act as agents of the center: pursuing land development when pushed to so do by central authorities concerned about managing economic growth.
- 10 Dec 2015
- Working Paper Summaries
The Probability of Rare Disasters: Estimation and Implications
Emil Siriwardane analyzes the probability for risk of large-scale financial disasters.
- 24 May 2010
- Research & Ideas
Stimulus Surprise: Companies Retrench When Government Spends
Research from Harvard Business School suggests that federal spending in states appears to cause local businesses to cut back rather than grow. A conversation with Joshua Coval. Closed for comment; 0 Comment(s) posted.
- 25 Jan 2010
- Research & Ideas
A Macroeconomic View of the Current Economy
Concerned or confused by the economic environment? Take some lessons from history and concepts from macroeconomics to get a better understanding of how the economy works. A Q&A with HBS professor David A. Moss, author of A Concise Guide to Macroeconomics: What Managers, Executives, and Students Need to Know. Closed for comment; 0 Comment(s) posted.
- 05 Jun 2009
- What Do You Think?
What Does Slower Economic Growth Really Mean?
Respondents to this month's column by HBS professor Jim Heskett came close to general agreement on the proposition that economic growth is not measured properly by GDP, calling for new indicators. Jim sums up. (Online forum now closed. Next forum begins July 6.) Closed for comment; 44 Comment(s) posted.
- 22 Aug 2005
- Research & Ideas
Restoring a Global Economy, 1950–1980
In his recent book Multinationals and Global Capitalism, professor Geoffrey Jones dissects the influence of multinationals on the world economy. This excerpt recalls the rebuilding of the global economy following World War II. Closed for comment; 0 Comment(s) posted.
Credit-Market Sentiment and the Business Cycle
Using United States data from 1929 to 2013, Jeremy C. Stein and colleagues emphasize the role of credit-market sentiment as an important driver of the business cycle.