How does price sensitivity change with the macroeconomic environment? We explore this question by measuring price elasticity using household-level data across 19 grocery categories over 24 quarters. For each category, we estimate a separate random-coefficients logit model with quarter-specific...

Intro -- Contents -- Acknowledgments -- Introduction / Ajay Agrawal, Joshua Gans, and Avi Goldfarb -- I. AI as a GPT -- 1. Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics / Erik Brynjolfsson, Daniel Rock, and Chad Syverson, Comment: Rebecca...