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- Faculty Publications (26)
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- All HBS Web (85)
- Faculty Publications (26)
- 27 May 2009
- First Look
First Look: May 27, 2009
Working PapersThe Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment Authors:Jason Beeler and John Y. Campbell Abstract The long-run risks model of asset prices explains stock price variation as a response to persistent fluctuations in the mean...
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Martha Lagace
- 23 Jan 2023
- Research & Ideas
After High-Profile Failures, Can Investors Still Trust Credit Ratings?
through which to look at what went wrong with the ratings system and how much it has changed. “What we wanted to find out was, are there times that they actually do a good job? Do we find they provide ratings that are accurate?” During the View Details
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by Ben Rand
- 20 Apr 2011
- Research & Ideas
Blind Spots: We’re Not as Ethical as We Think
practices of their clients, who have the power to fire them if they do notice. Q: The book is full of examples of people making decisions that they thought were ethical but clearly violated their own standards for ethical behavior—for example, decisions that set the...
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by Sean Silverthorne
- 07 Jul 2008
- Research & Ideas
Innovation Corrupted: How Managers Can Avoid Another Enron
sums up Enron's history and its enduring legacy. Q: Can an Enron-type calamity happen again? Why or why not? A: Perverse incentives are legion throughout our system today. For example, perverse incentives for both mortgage brokers and investment bankers helped create...
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- 14 Jan 2019
- Op-Ed
These 4 CEOs Created a New Standard of Leadership
highest return on equity. He guided it through the 2008-09 financial crisis without a glitch by avoiding high-risk subprime mortgages and derivatives that felled so many other banks. Concerned about the crisis’ impact on bank reputations,...
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- 2010
- Casebook
Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture
By: Laura Alfaro
All managers face a business environment in which international and macroeconomic phenomena matter. International capital flows can significantly affect countries' development efforts and provide clear investment opportunities for businesses. During the 1990s and early...
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Financial Crisis;
Capital;
International Finance;
Globalized Economies and Regions;
Policy;
Government and Politics;
Business and Government Relations
Alfaro, Laura. Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture. Singapore: World Scientific Publishing, 2010.
- 01 Dec 2007
- News
Faculty Research Online
negative publicity. What should the country do to polish its image? Visit http://hbswk.hbs.edu/item/5777.html. Building Sandcastles: The Subprime Adventure The early days of the subprime industry seemed to...
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- 01 Jun 2008
- News
Greed, Gullibility, and Optimism
Washington, D.C., Retsinas believes all parties in the housing mess were coconspirators — from lenders that hawked subprime finance deals with microprint caveats, to brokers that turned a blind eye to borrowers’ long-term solvency, to...
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- 01 Mar 2010
- News
Sunshine State
implications of his audacious $800 million bet against subprime mortgages, Jeff Greene was to remember that distant day when his father took him to discover vending machines.” Indeed, Greene never forgot when he was 14 and living in...
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Real Estate
- 01 Dec 2008
- News
No Easy Fix for the Financial Crisis
subprime crisis. “It’s hard to overstate the dramatic buildup in subprime lending by mid-decade,” he said. “Subprime lending represented a minimal share of home mortgages in the 1990s. As recently as 2001,...
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- 23 May 2018
- News
John A. Paulson, MBA 1980
1984 Joins Bear Stearns, M&A Managing Director 1988 Named Partner, Gruss Partners 1994 Launches Paulson & Co. 2007 Makes what many call the “greatest trade ever” on subprime mortgage market 2012 Contributes historic donation to Central...
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Susan Young
- 29 Sep 2008
- Research & Ideas
Financial Crisis Caution Urged by Faculty Panel
equity?" said Retsinas. On the issue of affordability, home prices rose so high that it became virtually impossible for people to take out regular or prime loans. "It's hard to overstate the dramatic buildup in subprime lending...
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- 25 Mar 2008
- News
Whistling Past the Graveyard
police itself. More “ham-handed” government regulation and oversight, not less, might be just what we need (http://financialservices.house.gov). As HBS professor emeritus Sam Hayes said recently of Wall Street and the subprime fiasco,...
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- 01 Mar 2009
- News
Faculty Responds to Financial Crisis
assignments and class discussions to incorporate the crisis, and they are encouraged to continue, says Badaracco. Several new cases already are in use, including “New Century Financial Corporation,” focusing on a subprime mortgage...
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- 01 Sep 2018
- News
After the Fall
Ten years ago, the global financial system teetered dangerously on the edge of total collapse. What began as a subprime mortgage crisis in the United States developed into a full-blown meltdown, causing the collapse of major banks...
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- 15 Aug 2007
- Op-Ed
3 Steps to Reduce Financial System Risk
products has kept up with the massive growth in the volume and complexity of these products. The recent experience with U.S. subprime products adds to such concerns. Worries center on the "correlation modeling" that underpins...
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- 01 Jun 2011
- News
An Economy Undermined
negotiable CDs, and so on. Across Wall Street, with takeovers, LBOs, S&Ls, over-the-counter derivatives, high-tech stocks, telecoms, subprime mortgages, and of course mortgage securitization, innovation was too often accompanied by abuse....
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- 21 Aug 2012
- First Look
First Look: August 21
Srinivasan, and Ian CornellHarvard Business School Case 113-002 The case introduces students to the subprime mortgage industry and helps to understand the business model and how economics transactions of View Details
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Sean Silverthorne
- 24 Feb 2011
- Research & Ideas
What’s Government’s Role in Regulating Home Purchase Financing?
The collapse of the US housing finance system, the subprime mortgage crisis, was a key contributor to the international economic crisis ignited in 2008. What should government do to prevent such an economic short-circuit in the future? On...
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- 01 Dec 2008
- News
What Went Wrong?
myself straining to understand not just what was happening but the strange vocabulary used to describe it. I’d never heard of a subprime mortgage. Likewise securitization in all its exotic flavors: collateralized debt obligations,...
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