综合经济学
Using a representative survey of Korean workers, we provide evidence on the adoption of Generative AI (GenAI) and how GenAI reallocates time at work. We find that 51.8\% of workers use GenAI for work and GenAI reduces working time by 3.8\%.…
This paper asks whether regulatory monitoring exhibits nonlinear capacity limits as the scale and complexity of the regulated environment increase. Using a county--year panel of U.S. Food and Drug Administration (FDA) inspections merged…
Recessions are periods in which the least productive firms in the economy exit, and as the economy recovers, they are replaced by new and more productive entrants. These cleansing effects improve the average firm productivity. At the same…
It is well established that the US prewar output was more volatile and less shock persistent than the postwar output. This is often attributed to the data interpolation employed to construct the prewar series. Our analytical results,…
We study how shareholder values shape firms' costly prosocial actions and who bears their costs. We develop a model in which some shareholders are publicly associated with a firm (e.g., founders or other prominent individual blockholders).…
To completely understand the effects of urban ecosystems, the effects of ecosystem disservices should be considered along with the ecosystem services and require more research attention. In this study, we tried to better understand its…
Do generative AI models, particularly large language models (LLMs), exhibit systematic behavioral biases in economic and financial decisions? If so, how can these biases be mitigated? Drawing on the cognitive psychology and experimental…
This paper examines the sign-dependent international spillovers of Federal Reserve and European Central Bank monetary policy shocks. Using a consistent high-frequency identification of pure monetary policy shocks across 44 advanced and…
We study the effects of a significant design and policy change at a major ridesharing platform that altered both provider earnings and platform transparency, examining how it affected outcomes for drivers, riders, and the platform, and…
We quantify the impact of Generative Artificial Intelligence (GenAI) on firm productivity through a series of large-scale randomized field experiments involving millions of users and products at a leading cross-border online retail…
Regulation is a major driver of housing supply, yet often difficult to observe directly. This paper estimates frontier cost, the non-land cost of producing housing absent regulation, and regulatory tax, which quantifies regulation in money…
Using aggregate, sectoral, and firm-level data, this paper examines the effects of two major U.S. corporate tax cuts. The Tax Cuts and Jobs Act (TCJA-17) led to large shareholder payouts but modest aggregate stimulus, while Kennedy's 1960s…
The COVID-19 pandemic exposed critical vulnerabilities in vaccine supply chains, highlighting the need for robust manufacturing for rapid pandemic response to support CEPI's 100 Days Mission. We develop a discrete-event simulation model to…
Growing concerns about housing affordability have prompted the adoption of rent control policies and renewed debates over their effectiveness. This paper provides the first empirical evaluation of the 2024 rent control policy implemented in…
Around three quarters of Bitcoin transactions take place off-chain. Despite their significance, the vast majority of the empirical literature on cryptocurrencies focuses on on-chain transactions. This paper presents one of the first…
This paper examines how gender and residential socioeconomic status shape hiring outcomes in the information technology sector using a field experiment from the city of Karachi, Pakistan. Employers in Pakistan can openly state preferences…
Bank failures can stem from runs on otherwise solvent banks or from losses that render banks insolvent, regardless of withdrawals. Disentangling the relative importance of liquidity and solvency in explaining bank failures is central to…
Clinical trials shape medical evidence and determine who gains access to experimental therapies. Whether participation in these trials reflects the global burden of disease remains unclear. Here we analyze participation inequality across…
In high-risk environments, traditional indemnity insurance is often unaffordable or ineffective, despite its well-known optimality under expected utility. We compare excess-of-loss indemnity insurance with parametric insurance within a…
This article identifies the factors that drove house prices in 13 advanced countries over the past 35 years. It does so based on Breiman s (2001) random forest model. Shapley values indicate that annual house price growth across countries…