Annual Conference

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International Macroeconomics, Money & Banking

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May 2022

We study the relationship between credit expansions, macroeconomic fluctuations, and financial crises using a novel database on the sectoral distribution of private credit for 117 countries starting in 1940. Theory predicts that the sectoral allocation of credit matters for distinguishing between â€...
Keywords: credit booms, credit allocation, growth, banking crises
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Annual Conference

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Corporate Finance

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May 2024

The adoption and commercialization of new technologies rely heavily on universally accepted principles, known as standards. Surprisingly, the role of standards in shaping business outcomes is largely unexplored. This paper provides an initial examination of how the standardization of artificial inte...
Keywords: Artificial Intelligence, Standard Setting, Investment, Technology Diffusion, Machine Learning, Big Data, Ethical AI, AI Safety, Privacy, AI Regulation, RegTech
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators – stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business expectation...
Keywords: COVID-19, Pandemic, economic uncertainty
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Commentaries

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2020, Pandemic

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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

We examine the text content of U.S. patent applications, identifying those that advance technologies in support of video conferencing, telecommuting, remote interactivity, and working from home (collectively, WFH). The share of new patent applications that advance WFH technologies more than doubles ...
Keywords: directed technical change, patents, COVID-19, Coronavirus, working from home, remote interactivity, text analysis
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