Professor Peter Orazem was interviewed by We Are Iowa for the article "Why used car prices are dropping — at least for now," which examines recent trends in used car prices.
Orazem said that "As a luxury item, automobiles tend to fall faster during recessions and rise faster during upticks. A reduction in [used car] prices are probably not a good indicator for what's happening with the overall economy. They're a signal of potential problems across the board in terms of a reduction in labor demand."
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