One Good Paper: A Stock Market Puzzle

Ben Bernanke speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on Mar. 20, 2013 Photograph by Andrew Harrer/Bloomberg

Each week, Bloomberg Businessweek asks a different economist to recommend one good paper—research, new or old, that should be on our reading list. This week Harald Uhlig, a macroeconomist at the University of Chicago, chose The Pre-FOMC Announcement Drift by David Lucca and Emanuel Moench, both staffers at the Federal Reserve Bank of New York.

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