This paper evaluates claims about large macroeconomic implications of new advances in AI. It starts from a task-based model of AI’s effects, working through automation and task complementarities. So ...

Assets in options-overlay strategies surpassed $100 billion in 2025, as investors chased headline yields of ten, twelve, even ...

We document that, after remaining almost constant for almost 30 years, real labor productivity at U.S. restaurants surged over 15% during the COVID pandemic. This surge has persisted even as many ...

A baloney-spewing ChatGPT bot posed as a lawyer and sweet-talked an Illinois woman into firing her real attorney — while citing completely bogus case law, a wild new lawsuit claims. The AI-powered ...

All major large language models (LLMs) can be used to either commit academic fraud or facilitate junk science, a test of 13 models has found. Still, some LLMs performed better than others in the ...