D62

Emmanuel Farhi · Iván Werning

This paper builds a theory of macroprudential policy whose only friction is nominal rigidity in goods and labor markets, possibly combined with a constraint on monetary policy such as the zero lower …

Gene M Grossman · Elhanan Helpman · Alejandro Sabal

Grossman, Helpman, and Sabal ask what market failures arise in vertical supply chains with multiple production tiers, limited (non-anonymous) supply networks, arms-length transactions, and recurrent …

Snehal Banerjee · Jesse Davis · Naveen Gondhi

Survey forecasts depart from rational expectations in ways that look contradictory: consensus forecasts under-react to news, individual forecasts of macroeconomic variables tend to over-react, and …