Publications

The traditional approach to climate policy is to regulate the demand side, for example through an emissions fee. Supply-side regulation has received less attention. The two instruments are perfect substitutes in the first best but we show that…

We link new forecast and management data on over 20,000 firms to data on productivity in manufacturing and services. The panel survey was administered in the UK in July 2017 and November 2020, coinciding with two periods of considerable…

Obesity and excess weight are major global health challenges. Several technological solutions, including mobile apps, have been developed to help people lose weight, many of which provide access to human coaches who help consumers set goals,…

A long-standing question in social science is to what extent differences in management cause differences in firm performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting on…

This article analyzes the results of the 2024 ADIA Lab Causal Discovery Challenge, a large-scale competition designed to evaluate whether machine learning methods can infer causal roles from observational data when ground-truth causal structures…

The evolutionary view posits that the intraorganizational ecology of strategy-making comprises two distinct types of strategic action. Induced strategic action involves initiatives on the part of operational and middle-level managers that fit…

People generally believe more is better in persuasion, for good reason. Past research has shown that providing more arguments can enhance a message’s persuasiveness. In contrast, we demonstrate that increasing the number of…

We study whether AI methods applied to large-scale portfolio holdings data can improve financial regulation. We build a state-of-the-art, graph-based deep learning model tailored to security-level data on the holdings of financial intermediaries…

Governments use their countries’ economic strength from financial and trade relationships to achieve geopolitical and economic goals. We provide a model of the sources of geoeconomic power and how it is wielded. The source of this power is the…

This paper studies gun-use regulation and firearm mortality. I gather historical schedules of deer hunting season in North Carolina and Virginia and pair them with morgue records at county-day frequency. Hunters increase firearm use during deer…

While large language models (LLMs) achieve near-perfect scores on medical licensing exams, these evaluations inadequately reflect the complexity and diversity of real-world clinical practice. Here we introduce MedHELM, an extensible evaluation…

Governments around the world have recently adopted policy support programs for hydrogen, tying the level of support to the assessed carbon intensity of the hydrogen produced. Here we compare alternative carbon accounting rules for determining the…

Problem Definition: Bangladesh suffers from massive lead emissions from its circular Lead-Acid Battery (LAB)

industry. Informal smelting of scrap lead from Used Lead-Acid Batteries (ULAB) is especially emission-intensive…

Corporate governance has become a well-discussed and controversial topic among corporations, shareholders, and the general public. However, the debate over what constitutes “good governance” often lacks structure, making it difficult for…

Over four centuries, specific currencies have dominated global debt denomination. We present a liquidity-based theory that explains the centrality of the Dutch florin, British pound, and US dollar, and that rationalizes features of the…

Background

A frequent, preventable cause of diagnostic errors involves failure to follow up on…

This article reviews recent research on monetary policy transmission through banks and the broader financial intermediation sector, and its implications for financial stability. Traditional banks remain fragile due to high leverage and maturity…

Persuasion is a powerful device for shaping people’s attitudes and actions. Recent work has begun to examine who persuaders target with their persuasive efforts. The current work explores how persuaders think about intermediaries—individuals who…