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 …
PublishedJournal of Monetary EconomicsPublished Oct 2025
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 high-productivity …