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We thank Leo Ma for excellent research assistance and seminar participants at Carleton, Universidad de Chile, HEC Montreal, University of Illinois, Michigan, MIT, NBER Summer Institute, Northwestern, Queen’s, SOLE meetings, the UBC Stone Breakfast, and the University of Victoria for helpful comments. Timea Molnar provided help with the occupation coding. Baker gratefully acknowledges the research…

In July, the Federal Trade Commission (FTC) sought public comment about its proposed policy statement addressing the Commission’s concern that artificial intelligence companies train large language models (LLMs) to “surreptitiously . . . produce ideologically motivated distortions in a response to a factual question.” That same month, Meta’s Oversight Board published a fact-specific research report…

Herb Stein famously said that if something cannot go on forever, it will stop. If ever there was truth in this statement, it has to be in relation to China’s unbalanced economic growth model that relies excessively on investment and export-led growth. The real question is not whether the current Chinese economic growth model will…

What Is Buc-ee’s Pay Scale? Buc-ee’s is drawing attention online after viral photos revealed what appears to be a highly competitive employee pay scale. According to the online photo, which was shared by Fox News, a poster indicates that cashiers, warehouse workers, maintenance employees and grocery stockers start at $20 an hour. Food service managers…

This comprehensive webinar series is designed to help your firm maximize the value of FINRA’s Report Center. The Report Center provides firms with secure access to data and reports that help detect potential compliance problems early, offering report cards that cover a variety of topics and rulesets. This series explores the different types of report…

To put it mildly, opinions varied on whether the Biden administration’s student loan policies—namely its repeated extensions of the COVID-era payment moratorium and attempt at mass loan forgiveness—were good ideas. But new evidence suggests that the uncertainty that these policies created for borrowers was harmful in and of itself. The expectation of future extensions of…