Economics
As the digital economy grows increasingly intangible, traditional productivity measures struggle to capture the true economic impact of artificial intelligence (AI). AI systems capable of cognitive work significantly enhance productivity,…
Can we use data on the biographies of historical figures to estimate the GDP per capita of countries and regions? Here we introduce a machine learning method to estimate the GDP per capita of dozens of countries and hundreds of regions in…
This article examines the complex relationship between money and political legitimacy in democracies (United States, Germany, India) and nondemocracies (China, Russia), using published empirical evidence to explore how financial resources…
This article examines the interplay of money, identity, and information as a pivotal triad reshaping electoral politics and legitimacy in modern democracies, with insights from the United States, India, Germany, China, and Russia. Financial…
I develop Ornithologist, a weakly-supervised textual classification system and measure the hawkishness and dovishness of central bank text. Ornithologist uses ``taxonomy-guided reasoning'', guiding a large language model with human-authored…
Many management decisions involve accumulated random realizations for which only the first and second moments of their distribution are available. The sharp Chebyshev-type bound for the tail probability and Scarf bound for the expected loss…
As large-scale social data explode and machine-learning methods evolve, scholars of entrepreneurship and innovation face new research opportunities but also unique challenges. This chapter discusses the difficulties of leveraging…
We introduce a new microeconomics foundation of a specific type of competitive market equilibrium that can be used to study several markets with information asymmetry such as commodity market, credit market, and insurance market.
This study develops a statistical model that integrates economic agglomeration theory and power-law distributions of city sizes to project future population distribution on 1-km grid cells. We focus on Japan -- a country at the forefront of…
Budget officers often assess public project proposals based on available financial support and expected outcomes. However, behavioral factors such as time discounting and psychological hesitation may lead to underinvestment in programs with…
In the medical residency matching markets of the U.S. and Japan, we observe that an applicant's probability of matching with their first-listed program is disproportionately higher than that of matching with their second-listed program,…
Purpose: This research explores the impact of Environmental, Social, and Governance (ESG) practices on employee performance and well-being in private higher education institutions in Bandung, West Java. It seeks to provide insights into how…
This study introduces the AI-Accentuated Career Transitions framework, advancing beyond binary automation narratives to examine how distinct AI usage patterns reshape occupational mobility. Analyzing 545 occupations through multivariate…
Patent systems vary widely in how rigorously they define and enforce inventors' rights. On one hand, formal statutes ("law on the books") set the scope of what can be patented and outline procedural safeguards. On the other hand, actual…
We study dynamic decentralized two-sided matching in which players may encounter unanticipated experiences. As they become aware of these experiences, they may change their preferences over players on the other side of the market.…
Recent research has documented a reversal from divergence to convergence in income levels between rich and poor countries after 2000. This paper employs a growth accounting framework to investigate the proximate sources of convergence over…
This study investigates the causal impact of takeovers on firm-level financial accounts on a sample of 4,482 targets in the European Union in the period 2007- 2021. Findings suggest that horizontal integrations do not have a statistically…
The second-tier patent system, known as utility models (UMs), has been considered a tool for supporting technological learning in catching-up economies. UMs often impose lower inventive step requirements than patents, making them accessible…
In an era of rapid change, timely and disaggregated economic insights are crucial for effective policymaking. This study explores the potential of real-time payment data to complement traditional economic measurement. Using anonmysed UK…
We introduce a high-dimensional multiplier bootstrap for time series data based on capturing dependence through a sparsely estimated vector autoregressive model. We prove its consistency for inference on high-dimensional means under two…