159 citations
6 papers
Financial Stability Implications of Generative AI: Taming the Animal Spirits
Anne Lundgaard Hansen, Seung Jung Lee
This paper investigates the impact of the adoption of generative AI on financial stability. We conduct laboratory-style experiments using large language models to replicate classic…
Efficacy of AI RAG Tools for Complex Information Extraction and Data Annotation Tasks: A Case Study Using Banks Public Disclosures
Nicholas Botti, Flora Haberkorn, Charlotte Hoopes +1
We utilize a within-subjects design with randomized task assignments to understand the effectiveness of using an AI retrieval augmented generation (RAG) tool to assist analysts wit…
Pandemics Depress the Economy, Public Health Interventions Do Not: Evidence from the 1918 Flu
Sergio Correia, Stephan Luck, Emil Verner
We study the impact of non-pharmaceutical interventions (NPIs) on mortality and economic activity across U.S. cities during the 1918 Flu Pandemic. The combination of fast and strin…
Digitizing Historical Balance Sheet Data: A Practitioner's Guide
Sergio Correia, Stephan Luck
This paper discusses how to successfully digitize large-scale historical micro-data by augmenting optical character recognition (OCR) engines with pre- and post-processing methods.…
Public Policymaking for International Agricultural Trade using Association Rules and Ensemble Machine Learning
Feras A. Batarseh, Munisamy Gopinath, Anderson Monken +1
International economics has a long history of improving our understanding of factors causing trade, and the consequences of free flow of goods and services across countries. The re…
Dynamic Beveridge Curve Accounting
Hie Joo Ahn, Leland D. Crane
We develop a dynamic decomposition of the empirical Beveridge curve, i.e., the level of vacancies conditional on unemployment. Using a standard model, we show that three factors ca…