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Generative artificial intelligence (AI) holds the potential to either complement workers by enhancing their productivity or substitute them. We examine the short-term effects of the recently released generative AI models (ChatGPT, DALL-E 2, and Midjourney)...

Blockchain-based smart contracts can potentially replace certain traditional contracts through decentralized enforcement and reduced transaction costs. However, scalability is a key bottleneck hindering their broader application and adoption, often ...

Quality certification is ubiquitously used in markets with asymmetric information, but little is known about the impact of the number of certification tiers on market outcomes. Exploiting a field experiment on a large e-commerce marketplace with an ...

The availability of digitally verifiable employment data significantly expands credit access for economically disadvantaged customers, and at the same time, profitably expands lenders’ loan portfolio.

What is the value of verified employment data in consumer lending? We study this question using a data set covering all employment verification inquiries to Equifax. Using a difference-in-differences approach, we analyze the changes in applicants’ loan ...

How can we make global trade inclusive for smaller sellers and firms? I present causal evidence that a major e-commerce platform increases on-site exports from small sellers through integrating an existing administrative and logistic service. The export ...

Artificial intelligence (AI) is surpassing human performance in a growing number of domains. However, there is limited evidence of its economic effects. Using data from a digital platform, we study a key application of AI: machine translation. We find ...

To mitigate inefficiencies arising from asymmetric information, some markets rely on government interventions, whereas others rely on reputation systems, warranties, or guarantees. This paper explores the impact of two mechanisms, namely, reputation ...