综合经济学
Europe's largest bank by assets as of 2025 started out in the 1860s in one of Europe's colonies: The Hongkong and Shanghai Banking Co (HSBC). Multiple wars forced Qing China and later the young Republic of China into a series of unequal…
Since the Industrial Revolution, the world economy has experienced rapid development, and China's economy has also achieved an unprecedented takeoff in the past. Behind the economic growth, population surge, and continuous improvement of…
We investigate how government-orchestrated assaults on the judiciary, disguised as modernization efforts, undermine judicial independence. Our study focuses on Venezuela's constitutional overhaul in the early 2000s, initiated by Hugo…
We present evidence from a field experiment across 66 firms and 7,137 knowledge workers. Workers were randomly selected to access a generative AI tool integrated into applications they already used at work for email, meetings, and writing.…
We investigate investors voluntary disclosure decisions under uncertainty about their information endowment (Dye 1985). In our model, an investor may receive initial evidence about a target firm. Conditional on learning the initial…
We seek to identify the most relevant benefits offered by Medicare Advantage Health Plans that drive membership and market share. As an example, we explore plans operating in a single county in New Jersey between 2018 and 2023. A dataset of…
Higher education often requires choosing a bachelor's and a master's degree, yet the returns of these combined choices and the role of courses in different disciplines remain understudied. This paper addresses this gap using detailed data…
Large language models (LLMs) like ChatGPT have significantly lowered the cost of producing written content. This paper studies how LLMs, through lowering writing costs, disrupt markets that traditionally relied on writing as a costly signal…
We propose an interpretable machine learning framework to help identify trade data discrepancies that are challenging to detect with traditional methods. Our system analyzes trade data to find a novel inverse price-volume signature, a…
This systematic review with narrative synthesis examines the social impacts of International Monetary Fund (IMF) programs. We systematically searched five academic databases and grey literature following PRISMA guidelines and included 53…
Results in the Heterogeneous Agent Model (HAM) literature determine the proportion of fundamentalists and trend followers in the financial market. This proportion varies according to the periods analyzed. In this paper, we use a large…
We study the impact of generative AI on labor market signaling using the introduction of an AI-powered cover letter writing tool on a large online labor platform. Our data track both access to the tool and usage at the application level.…
Sponsored product advertisements constitute a major revenue source for online marketplaces such as Amazon, Walmart, and Alibaba. A key operational challenge in these systems lies in the Sponsored Listings Ranking (SLR) problem, that is,…
We propose a simple framework to measure consumption insurance against income shocks that accounts for higher-order moments of the income distribution. We derive a nonlinear consumption function in which the extent of insurance varies with…
This paper investigates the heterogeneous effects of military spending news shocks on household income and wealth inequality for a large, panel of advanced and emerging economies. Confirming prior literature, we find that military spending…
The cost of error in many high-stakes settings is asymmetric: misdiagnosing pneumonia when absent is an inconvenience, but failing to detect it when present can be life-threatening. Because of this, artificial intelligence (AI) models used…
This study investigates the causal effects of open-water swim drafting by leveraging a natural experiment induced by staggered race starts during the COVID-19 pandemic. Before 2020, athletes started in groups, enabling drafting benefits,…
This paper explores the role of energy-saving technologies and energy efficiency in the post-COVID era. The pandemic meant major rethinking of the entrenched patterns in energy saving and efficiency. It also provided opportunities for…
This paper explores the critical question of the sustainability of Russian solar energy initiatives in the absence of governmental financial support. The study aims to determine if Russian energy companies can maintain operations in the…
This study examines the role of human capital investment in driving sustainable socio-economic growth within the energy industry. The fuel and energy sector undeniably forms the backbone of contemporary economies, supplying vital resources…