This paper addresses two connected questions: why do Black workers face persistently higher and more volatile unemployment than white workers, and can the Federal Reserve's August 2020 shift from a …
PublishedJournal of Monetary EconomicsOnline 1 Jun 2026Published Jul 2026
This paper investigates whether and how assumptions about household and firm expectations alter the macroeconomic implications of asymmetries commonly embedded in macroeconomic models. Specifically, …