Has America become a democratic free land of crumbling infrastructure, galloping income inequality, bitter political polarization, and dysfunctional governa

The Phillips curve becomes the Phillips cloud with no inexorable trade-off between inflation and unemployment. Stanford finance professor John Cochrane disa

Precautionary-motive and agency reasons for corporate cash management Bates, Kahle, and Stulz (JF 2009) empirically find that public firms have doubled t

Fed Chair Jerome Powell increases the neutral interest rate to a range of 1.5% to 1.75% in his debut post-FOMC press conference. The Federal Reserve raises

Amazon, Berkshire Hathaway, and JPMorgan Chase establish a new company to reduce U.S. employee health care costs in negotiations with drugmakers, doctors, a

Despite having way more responsibility than anyone else, top business titans such as Warren Buffett, Charlie Munger, and Oprah Winfrey often step away from