Word: dollarization
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Dates: during 2000-2009
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Facing a $110 million dollar budget deficit over the next two years, the Faculty of Arts and Sciences has unrolled a new online “Idea Bank” Web site that allows students, faculty, and staff to share anonymous proposals about ways to reduce expenses...
...Harvard’s endowment investments fell 27.3 percent in the fiscal year ending June 30, bringing its total value down to $26 billion—an $11 billion drop. Faust reminded audience members that payout from the endowment will decline by 8 percent in dollar value for at least this year and the next. Harvard’s other two income streams—tuition and fundraising—also shrank, with gift receipts down 8 percent. Over the past year, massive budget cuts across the board resulted in slowed faculty hiring, 275 layoffs, early retirement incentives, as well...
Unlike most robotic hands—which are made of rigid steel—Howe’s SDM Hand is polymer-based and has flexible joints, according to Aaron M. Dollar, who helped develop the technology as a graduate student at Harvard and is now a Yale assistant professor...
...flexibility of the SDM Hand lets it conform to and grasp objects of different sizes and shapes that may not be in the position predicted—in other words, the environment found outside of the laboratory, added Dollar...
...Second, we still buy a whole lot of your Treasury debt, though this is less of a weapon than is often portrayed in your press. (We have to recycle the dollars we earn from trade somewhere, and your Treasury market remains the largest and most liquid in the world. Plus, we, like the Japanese before us, have no real interest in seeing your interest rates rise and growth slow, particularly not now, and that's what would happen if we went on a T-bill buying strike.) But holding your debt does give us leverage, and we have some decisions...