By Lili Bayer and Jacob L. Shapiro July 22, 2016

In May, the British Chancellor of the Exchequer presented a report to Parliament outlining the short-term impacts of a vote to leave the European Union. According to the report, a vote to leave would cause “an immediate and profound economic shock,” pushing the U.K. into a recession and leading to a sharp rise in unemployment. The British Treasury was not alone in its fears: investment banks and consulting firms across the globe issued predictions of imminent doom. The Financial Times even reported…Read More