``Firms' attention to the macroeconomy is counter-cyclical and polarized. Attentive firms react more optimally to monetary policy and better mitigate the effects of uncertainty."
Recently accepted to REStud, from Song & Stern:
https://www.restud.com/firm-inattention-and-the-efficacy-of-monetary-policy-a-text-based-approach/
``The credit card monopoly of 1980s hurt low income households the most. Competitive reforms to the industry in 1970s & 1980s promoted competition => large welfare gains for the poorest U.S. households."
New paper from @KyleHerkenhoff & Raveendranathan:
https://www.restud.com/who-bears-the-welfare-costs-of-monopoly-the-case-of-the-credit-card-industry/