The Market Cost of Business Cycle Fluctuations
Published Online:20 Apr 2026https://doi.org/10.1287/mnsc.2023.00484
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- Received:March 19, 2023
- Accepted:October 21, 2024
- Published Online:April 20, 2026
Copyright © 2026, INFORMS
Cite as
Anisha Ghosh, Christian Julliard, Michael J. Stutzer (2026) The Market Cost of Business Cycle Fluctuations. Management Science 0(0).
https://doi.org/10.1287/mnsc.2023.00484
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The authors thank Jaroslav Borovicka, George Constantinides, Janice Eberly, Deborah Lucas, Sydney Ludvigson, and seminar participants at the National Bureau of Economic Research’s Summer Institute Asset Pricing Workshop and the Capital Markets and the Economy Workshop for helpful comments. All errors and omissions are our own.
