Four key ideas provide the foundation for the pragmatic theory of the firm, which is expecially useful for …
Sustainability
Making Economics More Useful: How Technological Eclecticism Could Help
Keynes thought it would be “splendid” if economists became more like dentists. Disciplinary economics has instead become more …
A Practitioners’ Guide to Leverage through Downturns
There is extensive research addressing questions of optimal capital structure. Studies typically focus on estimating the appropriate level …
Value-Added Per Share (VAPS): A Value-Relevant Corporate Performance Metric
The authors introduce Value Added Per Share (VAPS) as a value-relevant metric that is intended to complement earnings …
American Enterprise Institute Roundtable: Was Milton Friedman Right about Shareholder...
In this look back at Milton Friedman’s famous essay in The New York Times 50 years ago organized …
Risk Capital: Theory and Applications
After a brief review of the current theory and practice of risk capital by financial firms, the authors …
Columbia Business School Roundtable on Broken Models of Public Finance
Joe Biden’s chief economic adviser joins a proactive investor who was one of the largest private investors in …
The Euro @ 20: How Economic and Financial “Asymmetries” Marred...
The launch of the single currency in 1999 rekindled the European Union’s momentum toward deeper integration. And yet …
Rethinking Macro Measurement
Economists have long recognized that widely reported and followed economic indicators such as GDP, productivity, and real wage …
Columbia Business School Roundtable on The Fed’s Response to the...
A former Federal Reserve Governor (from 2006-2008) and a former Treasury official discuss the Fed’s and U.S. government’s …