Providing academic and professional support for research in financial economics.
Faculty Research
Christopher Clayton
Hegemonic powers, like the United States and China, exert influence on other countries by threatening the suspension or alteration of financial and trade relationships. We study financial services as a leading application both as tools of coercion and an industry with strong strategic complementarities. We estimate that U.S. geoeconomic power relies on financial services, while Chinese power relies on manufacturing.
Menaka Hampole
This paper looks at how workers' tasks are exposed to AI and machine learning technologies, and how this affects wages and employment. The research finds that jobs where tasks are highly exposed to AI tend to see less demand, while jobs with more diverse task exposure to AI see an increase in demand. The overall impact on employment is small because higher productivity from AI increases jobs across all occupations, even as some tasks are displaced by AI.
Bryan Kelly
This paper introduces a new way to measure how people fix their forecasting mistakes over time, called a Behavioral Impulse Response (BIR). By looking at real-world forecasts in economics and business, they find that people often don’t have perfect information and adjust their beliefs slowly over several months. These adjustment patterns differ depending on what’s being predicted and who is doing the forecasting. Their method offers a simple but powerful tool to help improve models of how people form and update their expectations.
Connect with us
Subscribe
Bluesky
X
YouTube
Origins of Value