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Austin American-Statesman on MSN14d
What is a recession, and is it tied to stock market declines? What to know after Trump’s tariffs
For weeks, stock markets have been falling, and the plunge accelerated after President Donald Trump on April 2 unveiled U.S. tariffs on virtually every country. Commenters on soci ...
National Bureau of Economic Research12d
Heterogeneous Beliefs, Asset Prices, and Business Cycles
This paper develops a complete-market production economy with heterogeneous beliefs about TFP growth. Hiring occurs before TFP is known and is, therefore, risky (operational leverage). The firm's ...