# Professor Xavier Gabaix's research on financial markets is cited

1 Faculty News January 15, 2016 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from the [Financial Times](https://next.ft.com/content/66bd7bf2-b9fe-11e5-bf7e-8a339b6f2164) -- "No mainstream economic forecaster is predicting a recession this year. But this is little comfort because they have consistently failed to forecast recessions. This might be because they are inherently unpredictable. New York University’s [Xavier Gabaix](http://www.stern.nyu.edu/faculty/bio/xavier-gabaix) has shown that they can arise from failures of important big companies..."

[Read more](https://next.ft.com/content/66bd7bf2-b9fe-11e5-bf7e-8a339b6f2164)