Large language models (LLMs) such as ChatGPT have the potential to revolutionize research in economics and other …

We consider risk sharing in rural China during its rapid economic transformation from the late 1980s through the late … effects through the tax-and-transfer system, leaving households more exposed to both idiosyncratic and village-aggregate risk …

We develop a model of informal risk-sharing in social networks, where relationships between individuals can be used as … social collateral to enforce insurance payments. We characterize incentive compatible risk-sharing arrangements and obtain …-dimensional networks, where people have connections in multiple directions, are sufficiently expansive to allow very good risk-sharing. We …

leading economics journals. Using my preferred model, 65% of narrowly rejected null hypotheses and 41% of all rejected null …

. Remote work also changes the risk premium on office real estate. We revalue the stock of New York City commercial office …

probability of disaster leads to a collapse of investment and a recession, an increase in risk spreads, and a decrease in the … shocks to aggregate uncertainty, I introduce a small, time-varying risk of economic disaster in a standard real business … risk of disaster does not affect the path of macroeconomic aggregates - a "separation theorem" between macroeconomic …

consumption, portfolio allocation, financing, investment, and business exit decisions. The optimal capital structure is determined …. More risk-averse entrepreneurs default earlier, but also choose higher leverage, even though leverage makes his equity more … risky. Non-diversified entrepreneurs demand both systematic and idiosyncratic risk premium. Cash-out option and external …