15 citations
5 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…
Measuring Communication Quality of Interest Rate Announcements
Jonathan Benchimol, Itamar Caspi, Sophia Kazinnik
We use text-mining techniques to measure the accessibility and quality of information within the texts of interest rate announcements published by the Bank of Israel over the past…
Failing Banks
Sergio Correia, Stephan Luck, Emil Verner
Why do banks fail? We create a panel covering most commercial banks from 1863 through 2024 to study the history of failing banks in the United States. Failing banks are characteriz…
The Debt-Inflation Channel of the German (Hyper-)Inflation
Markus K. Brunnermeier, Sergio Correia, Stephan Luck +2
This paper studies how a large increase in the price level is transmitted to the real economy through firm balance sheets. Using newly digitized macro- and micro-level data from th…
Measuring Race in US Economic Statistics: What Do We Know?
Sonya Ravindranath Waddell, John M. Abowd, Camille Busette +1
This article is an edited transcript of the session of the same name at the 38th Annual NABE Economic Policy Conference: Policy Options for Sustainable and Inclusive Growth. The pa…