综合经济学
Most organizations rely on managers to identify talented workers. However, managers who are evaluated on team performance have an incentive to hoard workers. This study provides the first empirical evidence of talent hoarding using…
Stablecoins, with a capitalization exceeding 200 billion USD as of January 2025, have shown significant growth, with annual transaction volumes exceeding 10 trillion dollars in 2023 and nearly doubling that figure in 2024. This exceptional…
We use a controlled experiment to study how information acquisition impacts candidate evaluations. We provide evaluators with group-level information on performance and the opportunity to acquire additional, individual-level performance…
We study the production, entry, and technological decisions of firms in the presence of bribery. We find that bribery can be justified even in the absence of bureaucratic inefficiencies. We document substantial technology-specific…
We examine the impact of livelihood diversification on food insecurity amid the COVID-19 pandemic. Our analysis uses household panel data from Ethiopia, Malawi, and Nigeria in which the first round was collected immediately prior to the…
New technologies are sometimes introduced at times or in places that lack the necessary data to conduct a well-identified impact evaluation. We develop a methodology that combines Earth observation (EO) data and advances in machine learning…
Do governments adjust budgetary policy to rising public debt, precluding fiscal unsustainability? Using budget data for 52 industrial and emerging economies since 1990, we apply panel methods accounting for cross-sectional dependence and…
We employ a comprehensive data set and a variety of methods to provide evidence on the magnitude of large banks' funding advantage in Canada in addition to the extent to which market discipline exists across different securities issued by…
Using a comprehensive dataset collected by the Federal Reserve, I find that over one-third of corporate loans issued by US banks are fully guaranteed by legal entities separate from borrowing firms. Using an empirical strategy that accounts…
The paper analyses the increasing popularity of large funds in the secondary private equity market, which are pegged on the perceived larger scale advantages of operational efficiency and fewer manager relationships (Reuter & Zitzewitz,…
Relationships between the energy and the finance markets are increasingly important. Understanding these relationships is vital for policymakers and other stakeholders as the world faces challenges such as satisfying humanity's increasing…
The rise of smart cities represents a significant trend in urban development. However, only in recent years has attention shifted toward the international promotion of these cities. Despite ongoing academic discussions on the impact of…
This chapter explores the six core dimensions of smart cities (i.e. smart economy, mobility, environment, people, living, and governance) emphasizing their interdependence and the need for holistic orchestration. Building on Giffinger et…
Can the general structure of a mortgage-backed security (MBS) contract be programmatically represented through the use of decentralized autonomous organizations (DAOs)? Such an approach could allow for the portfolio of loans to be managed…
Advancements in large language models (LLMs) have sparked a growing interest in measuring and understanding their behavior through experimental economics. However, there is still a lack of established guidelines for designing economic…
This paper introduces a novel revealed-preference approach to ranking colleges and professional schools based on applicants' choices and standardized test scores. Unlike traditional rankings that rely on data supplied by institutions or…
Rapid advances in AI have incited extensive inquiry into its effects on productivity and labor, potentially profound in both positive and negative ways. Often neglected, however, is comprehension of how AI technologies diffuse across and…
We introduce a new mean-field game framework to analyze the impact of carbon pricing in a multi-sector economy with defaultable firms. Each sector produces a homogeneous good, with its price endogenously determined through market clearing.…
In this paper, we explore how large language models (LLMs) approach financial decision-making by systematically comparing their responses to those of human participants across the globe. We posed a set of commonly used financial…
This study analyzes and forecasts daily passenger counts for New York City's iconic yellow taxis during 2017-2019, a period of significant decline in ridership. Using a comprehensive dataset from the NYC Taxi and Limousine Commission, we…