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We provide experimental evidence on how employers adjust expectations to automation risk in high-skill, white-collar work. Using a randomized information intervention among tax advisors in Germany, we show that firms systematically…
Accounting fraud is a global concern representing a significant threat to the financial system stability due to the resulting diminishing of the market confidence and trust of regulatory authorities. Several tricks can be used to commit…
This paper asks whether regional wage differences can identify the effects of a national minimum wage. I study two common exposure-based approaches: effective-minimum-wage designs, which compare the minimum wage to contemporaneous local…
The major perspective of this paper is to provide more evidence into the empirical determinants of capital structure adjustment in different macroeconomics states by focusing and discussing the relative importance of firm-specific and…
This paper develops a unified framework for evaluating the optimal degree of task automation. Moving beyond binary automate-or-not assessments, we model automation intensity as a continuous choice in which firms minimize costs by selecting…
Research on bias in machine learning algorithms has generally been concerned with the impact of bias on predictive accuracy. We believe that there are other factors that should also play a role in the evaluation of bias. One such factor is…
Why do human languages change at some times, and not others? We address this longstanding question from a computational perspective, focusing on the case of sound change. Sound change arises from the pronunciation variability ubiquitous in…
Gender bias distorts the economic behavior and outcomes of women and households. We investigate gender biases in property taxes. We analyze records of more than 100,000 property tax appeal hearings and more than 2.7 years of associated…
We use Fourier analysis to access risk in financial products. With it we analyze price changes of e.g. stocks. Via Fourier analysis we scrutinize quantitatively whether the frequency of change is higher than a change in (conserved) company…
Taking as a hypothesis a form of the labour theory of value, and $without$ $assuming$ $equilibrium$, we derive an equation that yields the profit-rate $\pi$ as a function of time. For a mature economy, $\pi(t)$ reduces to the product of two…
We study the problem of capacity modification in the many-to-one stable matching of workers and firms. Our goal is to systematically study how the set of stable matchings changes when some seats are added to or removed from the firms. We…
This paper investigates how institutional wage-setting constraints, such as a national minimum wage or collectively bargained wages, affect firm responses to demand shocks. We develop a framework to interpret heterogeneous shock responses…
This essay examines how automation has reconfigured mathematical proof and labor, and what might happen in the future. It discusses practical standards of proof, distinguishes between prominent forms of automation in research, provides…
Artificial intelligence (AI) can undermine financial stability because of malicious use, misinformation, misalignment, and the AI analytics market structure. The low frequency and uniqueness of financial crises, coupled with mutable and…
AI governance frameworks increasingly rely on audits, yet the results of their underlying evaluations require interpretation and context to be meaningfully informative. Even technically rigorous evaluations can offer little useful insight…
In many markets, like electricity or cloud computing markets, providers incur large costs for keeping sufficient capacity in reserve to accommodate demand fluctuations of a mostly fixed user base. These costs are significantly affected by…
Cash management is concerned with optimizing the short-term funding requirements of a company. To this end, different optimization strategies have been proposed to minimize costs using daily cash flow forecasts as the main input to the…
Over the past decade, the gender pay gap has remained steady with women earning 84 cents for every dollar earned by men on average. Many studies explain this gap through demand-side bias in the labor market represented through employers'…
A deep research agent produces a fluent scientific report in minutes; a careful reader then tries to verify the main claims and discovers the real cost is not reading, but tracing: which sentence is supported by which passage, what was…
A central socioeconomic concern about Artificial Intelligence is that it will lower wages by depressing the labor share - the fraction of economic output paid to labor. We show that declining labor share is more likely to raise wages. In a…