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Hysteresis and Business Cycles

By Valerie Cerra, Antonio Fatás, and Sweta C. Saxena

Journal of Economic Literature, March 2023

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as "hysteresis," argues for unifying the analysis of growth and cycles. In this ...

Designing Information Provision Experiments

By Ingar Haaland, Christopher Roth, and Johannes Wohlfart

Journal of Economic Literature, March 2023

Information provision experiments allow researchers to test economic theories and answer policy-relevant questions by varying the information set available to respondents. We survey the emerging literature using information provision experiments in econom...