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All HBS Web
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- Faculty Publications (142)
- December 2021
- Article
Trade Policy Uncertainty and Stock Returns
By: Marcelo Bianconi, Federico Esposito and Marco Sammon
A recent literature has documented large real effects of trade policy uncertainty (TPU) on trade, employment, and investment, but there is little evidence that investors are compensated for bearing such risk. To quantify the risk premium associated with TPU, we exploit...
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Keywords:
Trade Policy;
Uncertainty;
Stock Returns;
Risk Premium;
Tariff Rates;
Portfolio Analysis;
Trade;
Policy;
Risk and Uncertainty;
Stocks;
Investment Return
Bianconi, Marcelo, Federico Esposito, and Marco Sammon. "Trade Policy Uncertainty and Stock Returns." Art. 102492. Journal of International Money and Finance 119 (December 2021).
- November 2021
- Article
Panel Experiments and Dynamic Causal Effects: A Finite Population Perspective
By: Iavor Bojinov, Ashesh Rambachan and Neil Shephard
In panel experiments, we randomly assign units to different interventions, measuring their outcomes, and repeating the procedure in several periods. Using the potential outcomes framework, we define finite population dynamic causal effects that capture the relative...
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Keywords:
Panel Data;
Dynamic Causal Effects;
Potential Outcomes;
Finite Population;
Nonparametric;
Mathematical Methods
Bojinov, Iavor, Ashesh Rambachan, and Neil Shephard. "Panel Experiments and Dynamic Causal Effects: A Finite Population Perspective." Quantitative Economics 12, no. 4 (November 2021): 1171–1196.
- Article
Health Equity, Schooling Hesitancy, and the Social Determinants of Learning
By: Meira Levinson, Alan C. Geller, Joseph G. Allen and John D. Macomber
At least 62 million K-12 students in North America—disproportionately low-income children of color— have been physically out of school for over a year due to the COVID-19 pandemic. These children are at risk of significant academic, social, mental, and physical harm...
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Keywords:
COVID-19;
Public Health;
Air Quality;
Social Determinants Of Health;
Schooling Hesitancy;
Vaccine Hesitancy;
Racial Injustice;
Inequity;
Inequality;
Health Pandemics;
Education;
Health Care and Treatment;
Policy;
Race;
Equality and Inequality
Levinson, Meira, Alan C. Geller, Joseph G. Allen, and John D. Macomber. "Health Equity, Schooling Hesitancy, and the Social Determinants of Learning." Art. 100032. Lancet Regional Health – Americas 2 (October 2021).
- 2021
- Working Paper
The Luck of the Draw: The Causal Effect of Physicians on Birth Outcomes
By: Arlen Guarin, Christian Posso, Estefania Saravia and Jorge Tamayo
Identifying the effect of physicians’ skills on health outcomes is a challenging task due to the nonrandom sorting between physicians and hospitals. We overcome this challenge by exploiting a Colombian government program that randomly assigned 2,126 physicians to 618...
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Keywords:
Physicians' Health Skills;
Health Birth Outcomes;
Birthing Outcomes;
Experimental Evidence;
Health Care and Treatment;
Competency and Skills;
Outcome or Result;
Health Industry;
Colombia
Guarin, Arlen, Christian Posso, Estefania Saravia, and Jorge Tamayo. "The Luck of the Draw: The Causal Effect of Physicians on Birth Outcomes." Harvard Business School Working Paper, No. 22-015, February 2021. (Revised November 2021.)
- Article
Regulating Hospital Prices Based on Market Concentration Is Likely to Leave High-Price Hospitals Unaffected
By: Maximilian J. Pany, Michael E. Chernew and Leemore S. Dafny
Concern about high hospital prices for commercially insured patients has motivated several proposals to regulate these prices. Such proposals often limit regulations to highly concentrated hospital markets. Using a large sample of 2017 US commercial insurance claims,...
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Keywords:
Health Care Providers;
Hospitals;
Insurance Market Regulation;
Price Regulation;
Markets;
Health Care and Treatment;
Cost;
Quality;
Insurance;
Price;
Governing Rules, Regulations, and Reforms
Pany, Maximilian J., Michael E. Chernew, and Leemore S. Dafny. "Regulating Hospital Prices Based on Market Concentration Is Likely to Leave High-Price Hospitals Unaffected." Health Affairs 40, no. 9 (September 2021): 1386–1394.
- Summer 2021
- Article
Predictable Country-level Bias in the Reporting of COVID-19 Deaths
We examine whether a country’s management of the COVID-19 pandemic relate to the downward biasing of the number of reported deaths from COVID-19. Using deviations from historical averages of the total number of monthly deaths within a country, we find that the...
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Keywords:
COVID-19;
Deaths;
Reporting;
Incentives;
Government Policy;
Health Pandemics;
Health Care and Treatment;
Country;
Crisis Management;
Outcome or Result;
Reports;
Policy
Kobilov, Botir, Ethan Rouen, and George Serafeim. "Predictable Country-level Bias in the Reporting of COVID-19 Deaths." Journal of Government and Economics 2 (Summer 2021).
- 2021
- Working Paper
Going to Extremes: Crucibles, Multiple Sensitive Periods, and Career Progression
By: Prithwiraj Choudhury, Sunasir Dutta, Hise O. Gibson and Eric Lin
We study the effects of crucible experiences along multiple sensitive periods on career progression. While prior literature has hinted that individuals can be imprinted during multiple sensitive periods, not just during the early career, there has been scant attention...
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Choudhury, Prithwiraj, Sunasir Dutta, Hise O. Gibson, and Eric Lin. "Going to Extremes: Crucibles, Multiple Sensitive Periods, and Career Progression." Harvard Business School Working Paper, No. 22-006, August 2021.
- 2021
- Working Paper
Do Policies to Increase Access to Treatment for Opioid Use Disorder Work?
By: Eric Barrette, Leemore S. Dafny and Karen Shen
As of 2016 there were an estimated 2.1 million Americans suffering from opioid use disorder (OUD). To date, most policy interventions have focused on curbing opioid prescriptions and extending insurance coverage to include substance use disorder. However, relatively...
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Keywords:
Opioid Treatment;
Medication-assisted Treatment;
Substance Use Disorder;
Private Insurance;
Health Care and Treatment;
Health Disorders;
Insurance;
United States
Barrette, Eric, Leemore S. Dafny, and Karen Shen. "Do Policies to Increase Access to Treatment for Opioid Use Disorder Work?" NBER Working Paper Series, No. 29001, July 2021.
- July 2021
- Article
Invisible Inequality Leads to Punishing the Poor and Rewarding the Rich
By: Oliver P. Hauser, Gordon T. Kraft-Todd, David Rand, Martin A. Nowak and Michael I. Norton
Four experiments examine how the lack of awareness of inequality affects behaviour towards the rich and poor. In Experiment 1, participants who became aware that wealthy individuals donated a smaller percentage of their income switched from rewarding the wealthy to...
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Keywords:
Income Transparency;
Income;
Wealth;
Equality and Inequality;
Knowledge;
Behavior;
Outcome or Result;
Society;
Policy
Hauser, Oliver P., Gordon T. Kraft-Todd, David Rand, Martin A. Nowak, and Michael I. Norton. "Invisible Inequality Leads to Punishing the Poor and Rewarding the Rich." Behavioural Public Policy 5, no. 3 (July 2021): 333–353.
- 2021
- Working Paper
Fecal Microbiota Transplants (FMT): Case Histories of Significant Medical Advances
By: Amar Bhide and Srikant M. Datar
By 2013, after many decades of very slow development and adoption, Fecal Microbiota Transplantation procedures were attracting widespread attention. This case history chronicles the: 1) pioneering fecal transplants performed in the 20th century; 2) development of the...
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Keywords:
Health Care and Treatment;
Innovation and Invention;
Governing Rules, Regulations, and Reforms
Bhide, Amar, and Srikant M. Datar. "Fecal Microbiota Transplants (FMT): Case Histories of Significant Medical Advances." Harvard Business School Working Paper, No. 21-132, June 2021.
- June 15, 2021
- Article
Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice
By: Regina E. Herzlinger and Barak D. Richman
President Joe Biden’s promise to give every American access to affordable health insurance is well-intentioned, but his plan’s policy elements—a public option, a permanent expanded tax credit—require congressional approval and would expend significant political and...
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Keywords:
Health Insurance;
Health Insurance Marketplaces;
Health Care Delivery;
Health Care Financing;
Health Care Industry;
Health Care and Treatment;
Insurance;
Service Delivery;
Cost Management;
Health Industry;
United States
Herzlinger, Regina E., and Barak D. Richman. "Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice." Health Affairs Blog (June 15, 2021).
- Article
The CMS New Rule on Ambulatory Surgical Centers Earns Only Partial Credit
By: Junaid Nabi and Robert S. Kaplan
The Centers of Medicare and Medicaid Services (CMS) recently announced that it will be removing more...
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Keywords:
Ambulatory Care;
Payment Policy;
Health Care and Treatment;
Governing Rules, Regulations, and Reforms
Nabi, Junaid, and Robert S. Kaplan. "The CMS New Rule on Ambulatory Surgical Centers Earns Only Partial Credit." Health Affairs Blog (June 2, 2021).
- Article
Biosimilars and Follow-On Products in the United States: Adoption, Prices, and Users
By: Ariel Dora Stern, Jacqueline L. Chen, Melissa Ouellet, Mark R. Trusheim, Zeid El-Kilani, Amber Jessup and Ernst R. Berndt
Biologic drugs account for a disproportionate share of the increase in pharmaceutical spending in the U.S. and worldwide. Against this backdrop, many look to the expanding market for biosimilars—follow-on products to biologic drugs—as a vehicle for controlling...
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Keywords:
Pharmaceuticals;
Drug Spending;
Drug Pricing;
Health Care and Treatment;
Spending;
Price;
Markets;
Cost Management;
United States
Stern, Ariel Dora, Jacqueline L. Chen, Melissa Ouellet, Mark R. Trusheim, Zeid El-Kilani, Amber Jessup, and Ernst R. Berndt. "Biosimilars and Follow-On Products in the United States: Adoption, Prices, and Users." Health Affairs 40, no. 6 (June 2021): 989–999.
- 2021
- Article
To Thine Own Self Be True? Incentive Problems in Personalized Law
By: Jordan M. Barry, John William Hatfield and Scott Duke Kominers
Recent years have seen an explosion of scholarship on “personalized law.” Commentators foresee a world in which regulators armed with big data and machine learning techniques determine the optimal legal rule for every regulated party, then instantaneously disseminate...
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Keywords:
Personalized Law;
Regulation;
Regulatory Avoidance;
Regulatory Arbitrage;
Law And Economics;
Law And Technology;
Law And Artificial Intelligence;
Futurism;
Moral Hazard;
Elicitation;
Signaling;
Privacy;
Law;
Governing Rules, Regulations, and Reforms;
Information Technology;
AI and Machine Learning
Barry, Jordan M., John William Hatfield, and Scott Duke Kominers. "To Thine Own Self Be True? Incentive Problems in Personalized Law." Art. 2. William & Mary Law Review 62, no. 3 (2021).
- 2021
- Working Paper
Diversity and Performance in Entrepreneurial Teams
By: Sophie Calder-Wang, Paul A. Gompers and Kevin Huang
We study the role of diversity and performance in the entrepreneurial teams. We exploit a unique dataset of MBA students who participated in a required course to propose and start a real micro-business that allows us to examine horizontal diversity (i.e., within the...
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Calder-Wang, Sophie, Paul A. Gompers, and Kevin Huang. "Diversity and Performance in Entrepreneurial Teams." NBER Working Paper Series, No. 28684, April 2021.
- 2021
- Working Paper
Population Interference in Panel Experiments
By: Iavor I Bojinov, Kevin Wu Han and Guillaume Basse
The phenomenon of population interference, where a treatment assigned to one experimental unit affects another experimental unit's outcome, has received considerable attention in standard randomized experiments. The complications produced by population interference in...
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Bojinov, Iavor I., Kevin Wu Han, and Guillaume Basse. "Population Interference in Panel Experiments." Harvard Business School Working Paper, No. 21-100, March 2021.
- March 9, 2021
- Article
Addressing Consolidation in Health Care Markets
By: Leemore S. Dafny
This Viewpoint proposes three steps the Biden administration can take to slow consolidation within health care, which has been shown to raise costs without improving service or quality: better fund federal antitrust enforcement agencies; appoint agency heads committed...
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Keywords:
Antitrust Issues And Policies;
Health Care and Treatment;
Markets;
Consolidation;
Competition;
Government Administration
Dafny, Leemore S. "Addressing Consolidation in Health Care Markets." JAMA, the Journal of the American Medical Association 325, no. 10 (March 9, 2021): 927–928.
- 2021
- Working Paper
How Much Should We Trust Staggered Difference-In-Differences Estimates?
By: Andrew C. Baker, David F. Larcker and Charles C.Y. Wang
Difference-in-differences analysis with staggered treatment timing is frequently used to assess the impact of policy changes on corporate outcomes in academic research. However, recent advances in econometric theory show that such designs are likely to be biased in the...
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Keywords:
Difference In Differences;
Staggered Difference-in-differences Designs;
Generalized Difference-in-differences;
Dynamic Treatment Effects;
Mathematical Methods
Baker, Andrew C., David F. Larcker, and Charles C.Y. Wang. "How Much Should We Trust Staggered Difference-In-Differences Estimates?" European Corporate Governance Institute Finance Working Paper, No. 736/2021, February 2021. (Harvard Business School Working Paper, No. 21-112, April 2021.)
- March 2021
- Article
Provider Teams Outperform Solo Providers in Managing Chronic Diseases and Could Improve the Value of Care
By: Maximilian J. Pany, Lucy Chen, Bethany Sheridan and Robert S. Huckman
Scope-of-practice regulations, including prescribing limits and supervision requirements, may influence the propensity of providers to form care teams. Therefore, policy makers need to understand the effect of both team-based care and provider type on clinical...
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Keywords:
Disease Management;
Team-based Care;
Health Care and Treatment;
Groups and Teams;
Performance
Pany, Maximilian J., Lucy Chen, Bethany Sheridan, and Robert S. Huckman. "Provider Teams Outperform Solo Providers in Managing Chronic Diseases and Could Improve the Value of Care." Health Affairs 40, no. 3 (March 2021): 435–444.
- February 2021
- Article
Assessment of Electronic Health Record Use Between U.S. and Non-U.S. Health Systems
By: A Jay Holmgren, Lance Downing, David W. Bates, Tait D. Shanafelt, Arnold Milstein, Christopher Sharp, David Cutler, Robert S. Huckman and Kevin A. Schulman
Importance: Understanding how the electronic health record (EHR) system changes clinician work, productivity, and well-being is critical. Little is known regarding global variation in patterns of use.
Objective: To provide insights into which EHR... View Details
Objective: To provide insights into which EHR... View Details
Keywords:
Electronic Health Records;
Health Care and Treatment;
Online Technology;
Health Industry;
Information Technology Industry
Holmgren, A Jay, Lance Downing, David W. Bates, Tait D. Shanafelt, Arnold Milstein, Christopher Sharp, David Cutler, Robert S. Huckman, and Kevin A. Schulman. "Assessment of Electronic Health Record Use Between U.S. and Non-U.S. Health Systems." JAMA Internal Medicine 181, no. 2 (February 2021): 251–259.