Analyzing panel data from the U.S. Survey of Professional Forecasters (SPF, 1992Q1–2019Q4, 77 forecasters, 1,520 forecaster-quarter observations), Julio Ortiz finds that a "misspecified expectations" …
PublishedJournal of Monetary EconomicsPublished Apr 2026
This paper investigates the macroeconomic consequences of widespread just-in-time (JIT) inventory management, documenting a fundamental trade-off: JIT raises firm profitability and reduces micro-level …