Category «Economy»

Would Chat GPT3 Get a Wharton MBA? A Prediction Based on Its Performance in the Operations Management Course

Christian Terwiesch, “Would Chat GPT3 Get a Wharton MBA? A Prediction Based on Its Performance in the Operations Management Course”, Mack Institute for Innovation Management at the Wharton School, University of Pennsylvania, 2023. “OpenAI’s Chat GPT has shown a remarkable ability to automate some of the skills of highly compensated knowledge workers in general and …

Subjects: AI, Economy, Education, Financial System

The Federal Reserve is starting a climate experiment

Vox: “The central bank is studying climate risks at major banks, but Fed chair Jerome Powell doesn’t want to get involved in policy…How to run a climate experiment on a bank – The Fed is careful to note that its climate scenario analysis is different from a stress test. In Fed-speak, a stress test measures …

Subjects: Climate Change, Economy, Environmental Law, Financial System, Knowledge Management, Legal Research

New NYSIF Report: Long Covid

“New York state Insurance Fund has released a report [Shining A Light on Long Covid: an Analysis of Workers Compensation Data] analyzing its Covid-19 workers’ compensation claims to shine a light on Long Covid, a multifaceted syndrome causing new, returning, or ongoing symptoms in people after their initial infection. “As a large insurer with a …

Subjects: Economy, Financial System, Government Documents, Health Care, Legal Research

NY – Consumer Protection Guidance In the Event of Virtual Currency Insolvency

“Today New York Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris released Regulatory Guidance to better protect customers in the event of an insolvency or similar proceeding. The Regulatory Guidance reiterates expectations for sound custody and disclosure practices and the paramount importance of the equitable and beneficial interest in the asset always remaining with …

Subjects: Cryptocurrency, Economy, Financial System, Government Documents, Legal Research

Who Benefits from Income and Wealth Growth in the United States?

Who Benefits from Income and Wealth Growth in the United States? Thomas Blanchet, Emmanuel Saez, Gabriel Zucman, Department of Economics | University of California, Berkeley “Realtime Inequality provides the first timely statistics on how economic growth is distributed across groups. When new growth numbers come out each quarter, we show how each income and wealth group benefits. …

Subjects: Economy, Financial System

Addressing the risks in crypto: laying out the options

BIS Bulletin | No 66 | 12 January 2023 by Matteo Aquilina, Jon Frost and Andreas Schrimpf PDF full text  The recent high-profile failures of FTX and other crypto firms have re-ignited the debate on the appropriate policy response to address the risks in crypto, including through regulation. The “shadow financial” functions enabled by crypto markets share …

Subjects: Cryptocurrency, Economy, Financial System

The Financialization of Recession Response

The Financialization of Recession Response, Yale Program on Financial Stability, December 22, 2022, Aaron Klein: “This paper analyzes economic policy responses to the COVID-19-induced recession, focusing on the American policy response. Despite widespread political distrust between the two parties sharing control of the government and the timing of the upcoming presidential election, America’s political system …

Subjects: Economy, Financial System, Health Care, Legislation

Fed announces pilot climate scenario analysis

ClimateWire: “The Federal Reserve is requiring the largest American banks to assess how a major hurricane in the northeastern United States would affect their real estate portfolios as part of a broader regulatory exercise to measure the financial threats of climate change. The Fed released new details Tuesday about its anticipated “pilot climate scenario analysis,” …

Subjects: Civil Liberties, Economy, Energy, Environmental Law, Financial System

The Carbon Con

SourceMaterial: “The world’s biggest companies, from Netflix to Ben & Jerry’s, are pouring billions into an offsetting industry whose climate claims appear increasingly at odds with reality…Our analysis of nearly 100 million carbon credits found that only a fraction of them resulted in real emissions reductions. It raises questions for the organisations that many of …

Subjects: Climate Change, Economy, Environmental Law, Financial System, Legal Research