期刊文章

Are linear paper-based and nonlinear computer-based reading comprehension measuring the same cognitive constructs? Nonlinear hypertext reading may demand different skills than linear text comprehension, as it requires synthesizing and integrating ...

This study contributes to growing calls for greater pluralism in economics by examining how gender shapes economists’ normative and epistemological orientations. Drawing on original survey data from 2,425 economists across 19 countries, we documen...

Recent studies harnessing geospatial big data and machine learning have significantly advanced poverty mapping, enabling granular and timely welfare estimates in traditionally datascarce regions. While much of the existing research has focused on ...

I examine how governments have managed their holdings of gold and dollar reserves in recent decades, a period when gold’s share of aggregate international reserves rose and the dollar’s share fell. Using data on central banks’ reserve currency com...

As large language models (LLMs) advance in conversational and reasoning capabilities, their practical application in healthcare has become a critical research focus. However, there is a notable gap between the performance of medical LLMs on static...

Asymmetries play an important role in many macroeconomic models. We show that assumptions on household and firm expectations play a key role in determining the effects of these asymmetries on macroeconomic outcomes. If households and firms have pe...

This paper proposes an approach to enhance the Federal Reserve's readiness to undertake market-functioning asset purchases during Treasury market disruptions. It notes that by tilting the SOMA Treasury portfolio toward bills rather than mainta...

With the rapid development of quantum computing technology, traditionalcryptographic systems are facing unprecedented challenges. Post-Quantum Cryptography(POC), as a new cryptographic technology that can resist attacks from quantum computershas r...

Like students facing hard exam questions, large language models sometimes guess when uncertain, producing plausible yet incorrect statements instead of admitting uncertainty. Such “hallucinations” persist even in state-of-the-art systems and under...

The increasing adoption of artificial intelligence (AI) by financial institutions is transforming their operations, risk management and customer interactions. Nevertheless, the limited explainability of complex AI models, particularly when used in...

We examine the effects of the Federal Reserve's quantitative easing (QE) and quantitative tightening (QT) policies on firm-level financing and real economic outcomes. We construct a novel time series of maturity-specific balance sheet shocks t...

In managing their capital, banks balance the risk of breaching regulatory requirements against the cost of maintaining and speedily restoring “management” buffers. Using 68 quarters of data on 17 US and 17 euro-area banks, we find systematic reduc...

Can a central bank raise interest rates and still see real (inflation-adjusted) rates immediately fall? If so, can we trust the gap between real interest rates and their natural level to be a reliable guide? I explore a puzzle that arises when mov...

Can algorithms enhance bureaucrats’ work in developing countries? In data-poor environments, bureaucrats often exercise discretion over key decisions, such as audit selection. Exploiting newly digitized micro-data, this study conducted an at-scale...

Long-short term memory networks (LSTMs) offer a promising approach for analyzing shock propagation in multivariate economic and financial systems. To harness this potential, we introduce the LSTM multiplier response function, analogous to the impu...

Military mobility, defined as the capacity of armed forces to swiftly move troops and equipment across the European Union (EU), is a crucial but long-overlooked aspect of European defence. After decades of underinvestment and unresolved obstacles,...

Elected officials are increasingly extreme. Research trying to understand this trend has tended to focus on structural factors, such as primary elections and changes in the supply of candidates. Less emphasis has been placed on psychological persp...