
- 23 Feb 2021
- Cold Call Podcast
Examining Race and Mass Incarceration in the United States
The late 20th century saw dramatic growth in incarceration rates in the United States. Of the more than 2.3 million people in US prisons, jails, and detention centers in 2020, 60 percent were Black or Latinx. Harvard Business School assistant professor Reshmaan Hussam probes the assumptions underlying the current prison system, with its huge racial disparities, and considers what could be done to address the crisis of the American criminal justice system in her case, “Race and Mass Incarceration in the United States.” Open for comment; 0 Comment(s) posted.
Policy
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- 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; Comment(s) posted.

- 20 Jul 2020
- Op-Ed
It's Time for a Bipartisan Health Plan for Employers and Employees
Regina E. Herzlinger and Richard J. Boxer prescribe a seemingly impossible cure for battling health care options: a plan that embraces both Republican and Democratic ideas. Open for comment; Comment(s) posted.

- 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.

- 01 Jul 2020
- Working Paper Summaries
Social Interactions in Pandemics: Fear, Altruism, and Reciprocity
An analysis of 89 cities worldwide shows that mobility responds to infection risk, altruism, and reciprocity. Correcting the SIR model to account for this behavior shows that a balanced approach involving stringency measures, in respect of human dignity, and responsible social preferences mitigates the pandemic health and economic costs.

- 16 Jun 2020
- Working Paper Summaries
Government Incentives for Entrepreneurship
Even though many public policy efforts on entrepreneurship are well intentioned, the success rate has been disappointing. This essay explores these policies, focusing on financial incentives to entrepreneurs and the intermediaries who fund them.

- 01 Jun 2020
- Working Paper Summaries
Rebates in the Pharmaceutical Industry: Evidence from Medicines Sold in Retail Pharmacies in the U.S.
Retail pharmacy data illustrates it can be misleading to use list prices instead of net prices to understand pharmaceutical prices. Analysts and economists working in public policy should be extremely cautious in drawing policy conclusions based on list prices alone.

- 08 Jun 2019
- Working Paper Summaries
The Gift of Global Talent: Innovation Policy and the Economy
High-skilled workers in today’s knowledge-based economy are arguably the most important resource to the success of businesses, regions, and industries. This chapter pulls from Kerr’s book The Gift of Global Talent to examine the migration dynamics of high-skilled individuals. He argues that improving our knowledge of high-skilled migration can lead to better policy decisions.

- 22 May 2019
- Research & Ideas
Forgiving Student Loan Debt Leads to Better Jobs, Stronger Consumers
Without the burden of student loan debt, people seek higher-paying careers, stabilize their finances, and contribute to the economy, says Marco Di Maggio. Open for comment; Comment(s) posted.

- 06 Jun 2018
- Working Paper Summaries
Complex Disclosure
This study shows that companies looking to hide unfavorable information might strategically be making contract terms unnecessarily complex, harming consumers and undermining the effectiveness of disclosure. These results highlight a role for regulation that would encourage simpler forms of disclosure.

- 05 Sep 2017
- Working Paper Summaries
Structural Transformation: A Competitiveness-based View
A critical challenge for many economies is how to accelerate structural change when market forces alone seem insufficient. This paper explores the relationship between two approaches. The Structural Transformation framework argues for identifying and supporting target sectors in line with ‘latent’ competitive advantages. The competitiveness framework emphasizes the need to systematically strengthen competitive advantages, with new sectors the outcome rather than the driver of competitiveness upgrading.
- 08 Mar 2017
- Op-Ed
Op-Ed: Can the Proposed American Health Care Act Improve on 'Obamacare'?
Politics aside, the primary question to be asked about the newly proposed American Health Care Act is this: Will it improve choice, cost, and outcomes for health care consumers? Open for comment; Comment(s) posted.
- 02 Nov 2016
- Op-Ed
Government and Financial Tech Can Fix Cash Woes for Small Businesses
Cash flow is a major concern for small businesses, which, on average, hold only 27 days’ reserve. Karen Mills looks at how "fintech" and government policies can pull companies off the cash flow edge. Open for comment; Comment(s) posted.
- 24 Aug 2016
- Research & Ideas
Can Obamacare Be Saved?
Is Obamacare in trouble? With premiums rising and some health providers pulling back, The Affordable Care Act might seem wobbly. John A. Quelch and Emily Boudreau argue for remedies that include more education for consumers, innovation from insurers, and flexibility on behalf of regulators. Open for comment; Comment(s) posted.

- 08 Aug 2016
- Working Paper Summaries
The Unintended Consequences of the Zero Lower Bound Policy
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.

- 26 Jul 2016
- Working Paper Summaries
The Impact of the Entry of Biosimilars: Evidence from Europe
Biosimilars are large-molecule drugs that, while not an exact copy of already-approved large-molecule drugs, have been shown to be therapeutically equivalent. Much like generic drugs, which become available when a small-molecule drug goes off patent, biosimilars are lower in cost than their reference products and present an opportunity for savings when large-molecule drugs’ patents expire. Biosimilars have been available in the United States only since 2015 but have been regulated, approved, and sold in Europe for over a decade. This paper examines the European experience to help inform policy design and institutional choices for the United States. Topics covered include the entry of distributors and unique products; predictors of average product prices following biosimilar competition; and penetration of biosimilars as a share of total sales.
- 25 May 2016
- Research & Ideas
How Consumers and Businesses are Reshaping Public Health
Through a collection of case studies, John A. Quelch and co-authors explore the intersection of health care and business in the new book, Consumers, Corporations, and Public Health. Read an excerpt. Open for comment; Comment(s) posted.

- 18 May 2016
- Working Paper Summaries
The Impact of Mass Shootings on Gun Policy
The authors constructed and analyzed a dataset of all United States gun legislation and mass shootings between 1989 and 2014, finding that mass shootings do lead to significant policy responses: Lawmakers introduce 15 percent more bills the year after a shooting, an effect that is 66 times larger than the impact of non-mass shooting gun homicides. When it comes to enacting laws, Republican-controlled legislatures loosen restrictions on guns. Overall, the results suggest that random and infrequent events can be crucial levers for policy consideration. In the context of gun policy, the results highlight the need for a broader approach to solve gun violence.

- 07 Mar 2016
- Working Paper Summaries
Net Neutrality: A Fast Lane to Understanding the Trade-offs
Shane Greenstein and colleagues identify the economic dimensions involved with net neutrality and show that many questions can be informed by simple economic models of the market for internet services.
Leadership Advice for Biden: Restore a Sense of Calm
Harvard Business School faculty members share their expectations for a Biden presidency and offer advice to the commander in chief as he takes on the raging COVID-19 pandemic and a divided nation. Open for comment; Comment(s) posted.