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Training advanced AI models requires large investments in computational resources, or compute. Yet, as hardware innovation reduces the price of compute and algorithmic advances make its use more efficient, the cost of training an AI model…
Increasing agricultural productivity is a gradual process with significant time lags between research and development (R&D) investment and the resulting gains. We estimate the response of US agricultural Total Factor Productivity (TFP) to…
Despite significant advances in responsible AI research, industry adoption remains limited, leaving many HCI contributions underutilized in practice. This position paper argues that current research often fails to account for the…
AI is about learning algorithms and huge amounts of data and are drivers of economic growth -- what does this mean for the field of development studies? Can we re-orient to twin AI studies and development theory and practice to generate how…
Dormancy is a widespread adaptive strategy that enables populations to persist in fluctuating environments, yet how its benefits depend on the temporal structure of environmental variability remains unclear. We examine how dormancy…
This article introduces Regression Discontinuity Design (RDD) with Distribution-Valued Outcomes (R3D), extending the standard RDD framework to settings where the outcome is a distribution rather than a scalar. Such settings arise when…
Tourism is one of the world's fastest expanding businesses, as well as a significant source of foreign exchange profits and jobs. The research is based on secondary sources. The facts and information were primarily gathered and analyzed…
In this rejoinder, we aim to address two broad issues that cover most comments made in the discussion. First, we discuss some theoretical aspects of our work and comment on how this work might impact the theoretical foundation of…
Opportunities such as higher education can promote intergenerational mobility, leading individuals to achieve levels of socioeconomic status above that of their parents. We develop a dynamic model for allocating such opportunities in a…
The UK Research and Innovation Digital Research Infrastructure (DRI) needs to operate sustainably in the future, encompassing its use of energy and resources, and embedded computer hardware carbon emissions. Transition concepts towards less…
Do low corporate taxes always favor multinational production over economic integration? We propose a two-country model in which multinationals choose the locations of production plants and foreign distribution affiliates and shift profits…
This study examines whether the structure of global value chains (GVCs) affects international spillovers of research and development (R&D). Although the presence of ``hub'' countries in GVCs has been confirmed by previous studies, the role…
The growth in AI is rapidly transforming the structure of economic production. However, very little is known about how within-AI specialization may relate to broad-based economic diversification. This paper provides a data-driven framework…
In this paper, we test the contribution of foreign management on firms' competitiveness. We use a novel dataset on the careers of 165,084 managers employed by 13,106 companies in the United Kingdom in the period 2009-2017. We find that…
Generative AI is directional: it performs well in some task directions and poorly in others. Knowledge work is directional and endogenous as well: workers can satisfy the same job requirements with different mixes of tasks. We develop a…
This paper studies long term investing by an investor that maximizes either expected utility from terminal wealth or from consumption. We introduce the concepts of a generalized stochastic discount factor (SDF) and of the minimum price to…
Determining policy priorities is a challenging task for any government because there may be, for example, a multiplicity of objectives to be simultaneously attained, a multidimensional policy space to be explored, inefficiencies in the…
The Artificial Intelligence paradigm (hereinafter referred to as "AI") builds on the analysis of data able, among other things, to snap pictures of the individuals' behaviors and preferences. Such data represent the most valuable currency…
I examine global dynamics in a monetary model with overlapping generations of finite-horizon agents and a binding lower bound on nominal interest rates. Debt targeting rules exacerbate the possibility of self-fulfilling liquidity traps, for…
This paper studies regression discontinuity designs (RDD) when linear-in-means spillovers occur between units that are close in their running variable. We show that the RDD estimand depends on the ratio of two terms: (1) the radius over…