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

Corporate diversification theory and evidence A recent strand of corporate diversification literature spans at least three generations. The first generat

Amy Chua and Jed Rubenfeld suggest that relatively successful ethnic groups exhibit common cultural traits in America. Amy Chua and Jed Rubenfeld (2015)

Goldman, JPMorgan, Bank of America, Credit Suisse, Morgan Stanley, and UBS face an antitrust lawsuit. In this lawsuit, a U.S. judge alleges the illegal cons

Former Fed Chair Janet Yellen worries about U.S. government debt accumulation, expects new interest rate increases, and warns of the next economic recession

The world now faces an economic inequality crisis with few policy options. Some recent U.S. Federal Reserve data suggest that both income and wealth inequal