Money - Working Knowledge - Harvard Business School

<form name="aspnetForm" method="post" action="browse.aspx?HBSTopic=Money" id="aspnetForm">
<input type="hidden" name="MSOWebPartPage_PostbackSource" id="MSOWebPartPage_PostbackSource" value="" />
<input type="hidden" name="MSOTlPn_SelectedWpId" id="MSOTlPn_SelectedWpId" value="" />
<input type="hidden" name="MSOTlPn_View" id="MSOTlPn_View" value="0" />
<input type="hidden" name="MSOTlPn_ShowSettings" id="MSOTlPn_ShowSettings" value="False" />
<input type="hidden" name="MSOGallery_SelectedLibrary" id="MSOGallery_SelectedLibrary" value="" />
<input type="hidden" name="MSOGallery_FilterString" id="MSOGallery_FilterString" value="" />
<input type="hidden" name="MSOTlPn_Button" id="MSOTlPn_Button" value="none" />
<input type="hidden" name="__REQUESTDIGEST" id="__REQUESTDIGEST" value="0x3DAC235D01CE6F8EA8423DAD2A397623D75E198D82418119E33891B54EFB35654949E393F8DC45CF733A848E3B9F62D6E3BD0DA1322D6876202A8438B5B53FC4,19 Jun 2019 00:24:39 -0000" />
<input type="hidden" name="MSOSPWebPartManager_DisplayModeName" id="MSOSPWebPartManager_DisplayModeName" value="Browse" />
<input type="hidden" name="MSOSPWebPartManager_ExitingDesignMode" id="MSOSPWebPartManager_ExitingDesignMode" value="false" />
<input type="hidden" name="MSOWebPartPage_Shared" id="MSOWebPartPage_Shared" value="" />
<input type="hidden" name="MSOLayout_LayoutChanges" id="MSOLayout_LayoutChanges" value="" />
<input type="hidden" name="MSOLayout_InDesignMode" id="MSOLayout_InDesignMode" value="" />
<input type="hidden" name="MSOSPWebPartManager_OldDisplayModeName" id="MSOSPWebPartManager_OldDisplayModeName" value="Browse" />
<input type="hidden" name="MSOSPWebPartManager_StartWebPartEditingName" id="MSOSPWebPartManager_StartWebPartEditingName" value="false" />
<input type="hidden" name="MSOSPWebPartManager_EndWebPartEditing" id="MSOSPWebPartManager_EndWebPartEditing" value="false" />
<input type="hidden" name="__VIEWSTATE" id="__VIEWSTATE" value="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" />

<script type="text/javascript">
//<![CDATA[
var MSOWebPartPageFormName = 'aspnetForm';
var g_presenceEnabled = true;var _fV4UI=true;var _spPageContextInfo = {webServerRelativeUrl: "\u002f", webLanguage: 1033, currentLanguage: 1033, webUIVersion:4,pageListId:"{229a3fa1-d23f-4194-af04-83f712f16168}",pageItemId:10, alertsEnabled:true, siteServerRelativeUrl: "\u002f", allowSilverlightPrompt:'True'};//]]>
</script>
<script type="text/javascript" src="/_layouts/1033/init.js?rev=0OHTJmtljdkrRniX3Vao7A%3D%3D"></script>
<script src="/WebResource.axd?d=KzYTxvKcuTEp7j51joTea5GVr92AuJ4SL5aQ9QUnLuUrG7rTi8YCbgNYedMwdv6fDwv5Ou7X64HliGCav7hiwmuBylh2hjGhv6JU0lkokc63lAPUBD0MIaMGwGty9ueA82idlgs7ktVQj8-X5TCDW8nNPkA1&t=636767462854137053" type="text/javascript"></script>
<script type="text/javascript">
//<![CDATA[
var dlc_fvsi = {"DefaultViews":[],"ViewUrls":[],"WebUrl":"\/"};//]]>
</script>

<script type="text/javascript">
//<![CDATA[
function _spNavigateHierarchy(nodeDiv, dataSourceId, dataPath, url, listInContext, type) {
    CoreInvoke('ProcessDefaultNavigateHierarchy', nodeDiv, dataSourceId, dataPath, url, listInContext, type, document.forms.aspnetForm, "", "\u002fPages\u002fbrowse.aspx");

}
//]]>
</script>
<input type="hidden" name="__VIEWSTATEGENERATOR" id="__VIEWSTATEGENERATOR" value="7BAFC84E" />
<script type="text/javascript">RegisterSod("sp.core.js", "\u002f_layouts\u002fsp.core.js?rev=7ByNlH\u00252BvcgRJg\u00252BRCctdC0w\u00253D\u00253D");</script><script type="text/javascript">RegisterSod("sp.res.resx", "\u002f_layouts\u002fScriptResx.ashx?culture=en\u00252Dus\u0026name=SP\u00252ERes\u0026rev=b6\u00252FcRx1a6orhAQ\u00252FcF\u00252B0ytQ\u00253D\u00253D");</script><script type="text/javascript">RegisterSod("sp.ui.dialog.js", "\u002f_layouts\u002fsp.ui.dialog.js?rev=Tpcmo1\u00252FSu6R0yewHowDl5g\u00253D\u00253D");RegisterSodDep("sp.ui.dialog.js", "sp.core.js");RegisterSodDep("sp.ui.dialog.js", "sp.res.resx");</script><script type="text/javascript">RegisterSod("core.js", "\u002f_layouts\u002f1033\u002fcore.js?rev=Emb5hNX1RZMNXk9oS82yvA\u00253D\u00253D");</script>
<script type="text/javascript">
//<![CDATA[
var _spFormDigestRefreshInterval = 1440000;window.g_updateFormDigestPageLoaded = new Date(); window.g_updateFormDigestPageLoaded.setDate(window.g_updateFormDigestPageLoaded.getDate() -5);function loadMDN2() { EnsureScript('MDN.js', typeof(loadFilterFn), null); }
function loadMDN1() { ExecuteOrDelayUntilScriptLoaded(loadMDN2, 'sp.ribbon.js'); }
_spBodyOnLoadFunctionNames.push('loadMDN1');//]]>
</script>
<script type="text/javascript">RegisterSod("sp.runtime.js", "\u002f_layouts\u002fsp.runtime.js?rev=IGffcZfunndj0247nOxKVg\u00253D\u00253D");RegisterSodDep("sp.runtime.js", "sp.core.js");RegisterSodDep("sp.runtime.js", "sp.res.resx");</script><script type="text/javascript">RegisterSod("sp.js", "\u002f_layouts\u002fsp.js?rev=\u00252B4ZEyA892P3T0504qi0paw\u00253D\u00253D");RegisterSodDep("sp.js", "sp.core.js");RegisterSodDep("sp.js", "sp.runtime.js");RegisterSodDep("sp.js", "sp.ui.dialog.js");RegisterSodDep("sp.js", "sp.res.resx");</script><script type="text/javascript">RegisterSod("cui.js", "\u002f_layouts\u002fcui.js?rev=OOyJv78CADNBeet\u00252FvTvniQ\u00253D\u00253D");</script><script type="text/javascript">RegisterSod("inplview", "\u002f_layouts\u002finplview.js?rev=WB6Gy8a027aeNCq7koVCUg\u00253D\u00253D");RegisterSodDep("inplview", "core.js");RegisterSodDep("inplview", "sp.js");</script><script type="text/javascript">RegisterSod("ribbon", "\u002f_layouts\u002fsp.ribbon.js?rev=F\u00252BUEJ66rbXzSvpf7nN69wQ\u00253D\u00253D");RegisterSodDep("ribbon", "core.js");RegisterSodDep("ribbon", "sp.core.js");RegisterSodDep("ribbon", "sp.js");RegisterSodDep("ribbon", "cui.js");RegisterSodDep("ribbon", "sp.res.resx");RegisterSodDep("ribbon", "sp.runtime.js");RegisterSodDep("ribbon", "inplview");</script><script type="text/javascript">RegisterSod("sp.ui.policy.resources.resx", "\u002f_layouts\u002fScriptResx.ashx?culture=en\u00252Dus\u0026name=SP\u00252EUI\u00252EPolicy\u00252EResources\u0026rev=YhBHGmUAGyJ3lAgSdE4V\u00252Fw\u00253D\u00253D");</script><script type="text/javascript">RegisterSod("mdn.js", "\u002f_layouts\u002fmdn.js?rev=gwmFFJ2\u00252FfFacqXWAqG\u00252FqKg\u00253D\u00253D");RegisterSodDep("mdn.js", "sp.core.js");RegisterSodDep("mdn.js", "sp.runtime.js");RegisterSodDep("mdn.js", "sp.js");RegisterSodDep("mdn.js", "cui.js");RegisterSodDep("mdn.js", "ribbon");RegisterSodDep("mdn.js", "sp.ui.policy.resources.resx");</script>
<script type="text/javascript">
//<![CDATA[

function _spNavigateHierarchyEx(nodeDiv, dataSourceId, dataPath, url, listInContext, type, additionalQString) {
    SetAdditionalNavigateHierarchyQString(additionalQString);
    g_originalSPNavigateFunc(nodeDiv, dataSourceId, dataPath, url, listInContext, type);
}

g_originalSPNavigateFunc = _spNavigateHierarchy;
_spNavigateHierarchy = _spNavigateHierarchyEx;
var _fV4UI = true;//]]>
</script>
<script type="text/javascript">RegisterSod("msstring.js", "\u002f_layouts\u002f1033\u002fmsstring.js?rev=QtiIcPH3HV7LgVSO7vONFg\u00253D\u00253D");</script><script type="text/javascript">RegisterSod("browserScript", "\u002f_layouts\u002f1033\u002fnon_ie.js?rev=EVTj1bu32\u00252FMla6SDN\u00252FsNTA\u00253D\u00253D");</script>
<script type="text/javascript">
//<![CDATA[
var __wpmExportWarning='This Web Part Page has been personalized. As a result, one or more Web Part properties may contain confidential information. Make sure the properties contain information that is safe for others to read. After exporting this Web Part, view properties in the Web Part description file (.WebPart) by using a text editor such as Microsoft Notepad.';var __wpmCloseProviderWarning='You are about to close this Web Part.  It is currently providing data to other Web Parts, and these connections will be deleted if this Web Part is closed.  To close this Web Part, click OK.  To keep this Web Part, click Cancel.';var __wpmDeleteWarning='You are about to permanently delete this Web Part.  Are you sure you want to do this?  To delete this Web Part, click OK.  To keep this Web Part, click Cancel.';//]]>
</script>
</form>

Skip to Main Content

Filter Results: (3)

Filter Results: (3)

Page 1 of 3 Results

01 Apr 2019
What Do You Think?

Does Our Bias Against Federal Deficits Need Rethinking?

by James Heskett

SUMMING UP. Readers lined up to comment on James Heskett's question on whether federal deficit spending as supported by Modern Monetary Theory is good or evil. Open for comment; Comment(s) posted.

13 Nov 2017
Research & Ideas

Want to Be Happier? Spend Some Money on Avoiding Household Chores

by Dina Gerdeman

In an age of time scarcity, buying our way out of the negative moments in the day is an important key to happiness, according to research by Ashley V. Whillans, Michael I. Norton, Elizabeth W. Dunn, Paul Smeets, and Rene Bekkers. Open for comment; Comment(s) posted.

08 Aug 2016
Working Paper Summaries

The Unintended Consequences of the Zero Lower Bound Policy

by Marco Di Maggio and Marcin Kacperczyk

In the aftermath of the financial crisis of 2007-2008, the United States Federal Reserve took an unprecedented decision to lower short-term nominal interest rates to zero, a policy commonly known as zero lower bound policy. This study shows that the policy adversely affected an important part of the shadow banking system, money market funds, whose returns are linked to the Fed funds rate. During times of unusually low interest rates, fund managers tended to increase their portfolios’ risk. The policy also triggered a reduction in capital supply to financial firms and large corporations and increased the financial markets’ exposure to costly runs and defaults.

1