A display of Halloween products for sale in West Covina, Calif., on Sept. 10, 2025. Frederic J. Brown/Getty ImagesHalloween is a fun, scary time for children and adults alike – but why does the holiday seem to start so much earlier every year? Decades ago, when I was young, Halloween was a much smaller affair, and people didn’t start preparing until mid-October.
This paper studies the effects of fiscal policy announcements on household expectations. We document announcements of price-related expansionary fiscal measures in response to the cost-of-living crisis in the four largest euro area economies and exploit the exogenous timing of fiscal actions relative to household survey participation to estimate their causal effects. Following fiscal announcements, households revise their beliefs: inflation perceptions rise, and unemployment perceptions fall.
skynesher/GettyWhen we talk about diversity in business, it’s usually in moral or social terms – fairness, inclusion and representation. But our new research suggests diversity also pays off in a very practical way: helping companies make better financial and investment decisions.
Oscar Wong/Getty ImagesYou check prices online for a flight to Melbourne today. It’s $300. You leave your browser open. Two hours later, it’s $320. Half a day later, $280. Welcome to the world of algorithmic pricing, where technology tries to figure out what price you’re willing to pay.
Sirio AramonteAfter the Global Financial Crisis, the liquidity-supply ecosystem that underpins nonbank intermediation shifted away from traditional dealers. Instead, it started to rely more on intermediaries with fragile funding structures and opportunistic investment strategies. Over the years, stress episodes saw the sudden retrenchment of these intermediaries, which amplified liquidity imbalances and market malfunction.
Neil Mehrotra, Hyunseung Oh, and Julio L. OrtizUsing industry-level panel data and plausibly exogenous variation in supply conditions, we estimate the elasticity of retail price margins with respect to inventories along the retailer's optimal pricing curve. We find that this elasticity is negative and statistically significant, implying that lower finished-good inventories lead to higher price margins.
Hsinyu (Samuel) Tseng, Douglas A. WebberWe use the longitudinal component of the Current Population Survey to compare transition rates into and out of disability and employment prior to and after the onset of the pandemic. We find that one-third of the increased employment rate among disabled people is due to the excess incidence of disability seen following the pandemic, while the other two-thirds is attributable to higher participation among people whose disabilities were unrelated to the pandemic.
The PRA and FCA have today confirmed plans to increase flexibility around senior banker pay, alongside changes to create better links between bonus awards and responsible risk-taking.
Here’s the breakdown on what’s really driving America’s runaway drug prices -- and whether any of the current plans stand a chance to lower your pharmacy bill.
When it comes to the sickening cost of prescription drugs in America, this much is true: Big Pharma didn’t get rich by playing nice. It got rich playing Wall Street games.
For decades, economist William Lazonick has been exposing how Pharma’s Wall Street-driven business model doesn’t just lead to sky-high drug prices, but actually stifles innovation, too.
When Starbucks announced that it would phase out its mobile-order pickup-only locations beginning in 2026, it raised a question: Why abandon a format seemingly built for speed and efficiency?
