Flying first class is getting cheaper — if you don’t mind giving up some perks

Elements of this paper previously circulated as part of an earlier version of “Pricing of Corporate Bonds: Evidence From a Century-Long Cross-Section.” We thank Hengjie Ai, Andrew Atkeson, Ravi Bansal, Frederico Belo, Nina Boyarchenko, Francesca Carapella, Jaewon Choi, Alexander Dickerson, Hitesh Doshi, Jintao Du, Bjørn Eraker, Chuck Fang, Darrell Duffie, Joao Gomes, Kris Jacobs, Kai…

Google Map showing 26 Federal Plaza in New York City. Source: Google Earth A man described as an anti-ICE activist was taken into custody after setting off fireworks and wielding two airsoft rifles outside an immigration court building in lower Manhattan on Monday morning, five law enforcement sources told MS NOW. Two people were injured…

We develop a theory of firm wage dynamics that integrates the canonical wage-posting model à la Burdett and Mortensen (1998) with firm dynamics. Firms offer dynamic wage contracts under an equal-treatment constraint in the presence of search frictions. We provide an analytical characterization of equilibrium wage contracts and firm growth as functions only of the…

A JetBlue Airways Airbus A320, left, passes a Spirit Airlines Airbus A320 as it taxis on the runway, Thursday, July 7, 2022, at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Fla. Wilfredo Lee | AP JetBlue Airways has won Spirit Airlines slots at New York’s LaGuardia Airport and is looking to move back into…

Jefferies on Monday downgraded Apple. Edison Lee, a top analyst at Jefferies known for frequent ratings and price target changes, cut the stock to a sell-equivalent from hold. He also lowered his Apple price target to $263.66 per share from $285.56, implying nearly 16% downside from Friday’s close. Lee cited supply chain checks showing that…