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Productivity and Wages : What Was the Productivity-Wage Link in the Digital Revolution of the Past, and What Might Occur in the AI Revolution of the Future?
Lazear, Edward P.; Shaw, Kathryn; Hayes, Grant E.; … - National Bureau of Economic Research - 2022
Wages have been spreading out across workers over time - or in other words, the 90th/50th wage ratio has risen over time. A key question is, has the productivity distribution also spread out across worker skill levels over time? Using our calculations of productivity by skill level for the U.S.,...
Persistent link: https://www.econbiz.de/10013477226
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Banking and Insurance
Haubrich, Joseph G. - 1984
privately observable, idiosyncratic random events. The information structure precludes conventional insurance arrangements …. However, a financial institution -- perhaps best viewed as a savings bank -- can provide partial insurance by generating a …, resulting in a level of expected utility higher than that achievable in simple security markets. Insurance is incomplete because …
Persistent link: https://www.econbiz.de/10012477783
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The Promise and Pitfalls of Conflict Prediction : Evidence from Colombia and Indonesia
Bazzi, Samuel - 2019
Policymakers can take actions to prevent local conflict before it begins, if such violence can be accurately predicted. We examine the two countries with the richest available sub-national data: Colombia and Indonesia. We assemble two decades of fine-grained violence data by type, alongside...
Persistent link: https://www.econbiz.de/10012479929
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Combining Family History and Machine Learning to Link Historical Records
Price, Joseph - 2019
A key challenge for research on many questions in the social sciences is that it is difficult to link historical records in a way that allows investigators to observe people at different points in their life or across generations. In this paper, we develop a new approach that relies on millions...
Persistent link: https://www.econbiz.de/10012480171
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Belief Distortions and Macroeconomic Fluctuations
Bianchi, Francesco - 2020
This paper combines a data rich environment with a machine learning algorithm to provide new estimates of time-varying systematic expectational errors ("belief distortions") embedded in survey responses. We find that distortions are large on average even for professional forecasters, with all...
Persistent link: https://www.econbiz.de/10012481601
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Artificial Intelligence and Consumer Privacy
Jin, Ginger Zhe - 2018
Thanks to big data, artificial intelligence (AI) has spurred exciting innovations. In the meantime, AI and big data are reshaping the risk in consumer privacy and data security. In this essay, I first define the nature of the problem and then present a few facts about the ongoing risk. The bulk...
Persistent link: https://www.econbiz.de/10012453461
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Mapping the Knowledge Space : Exploiting Unassisted Machine Learning Tools
Teodoridis, Florenta; Lu, Jino; Furman, Jeffrey L. - National Bureau of Economic Research - 2022
Understanding factors affecting the direction of innovation is a central aim of research in the economics of innovation. Progress on this topic has been inhibited by difficulties in measuring distance and movement in knowledge space. We describe a methodology that infers the mapping of the...
Persistent link: https://www.econbiz.de/10013435165
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Antitrust, Regulation, and User Union in the Era of Digital Platforms and Big Data
Cong, Lin William; Mayer, Simon - National Bureau of Economic Research - 2023
We model platform competition with endogenous data generation, collection, and sharing, thereby providing a unifying framework to evaluate data-related regulation and antitrust policies. Data are jointly produced from users' economic activities and platforms' investments in data infrastructure....
Persistent link: https://www.econbiz.de/10013537775
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Big Data in Finance
Goldstein, Itay; Spatt, Chester S.; Ye, Mao - National Bureau of Economic Research - 2021
Big data is revolutionizing the finance industry and has the potential to significantly shape future research in finance. This special issue contains articles following the 2019 NBER/ RFS conference on big data. In this Introduction to the special issue, we define the "Big Data" phenomenon as a...
Persistent link: https://www.econbiz.de/10012496169
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Relationship Banking and the Pricing of Financial Services
Calomiris, Charles - 2006
risk insurance, which is manifested in a reduced demand for lines of credit. We also find evidence of a “road show⠅
Persistent link: https://www.econbiz.de/10012466039