Epidemiological tail risk in an era of missing price signals
Edward Harrison | Feb 1 | 7 |
The title of the post is supposed to marry what's happening on the pandemic front with what's happening in financial markets. The gist is that, in a world where unexpected levels of economic resiliency has been the norm, we should wonder why it makes sense to think too much about downside risks. I am going to try and frame the picture without making too…