D25

Julio L. Ortiz

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 …

Ding Dong · Zheng Liu · Pengfei Wang

Firm-level evidence shows that recessions are characterized not just by aggregate downturns but by a sharp rise in turbulence—a reshuffling of firms’ productivity rankings in which …