We propose a demand estimation approach that leverages unstructured data to infer substitution patterns. Using pre-trained deep learning models, we extract embeddings from product images and textual descriptions and incorporate them into a mixed logit demand model. This approach enables demand...

We study the determinants of US dollar demand across market participants and traded instruments using survey-based exchange rate and macroeconomic expectations. Leveraging granular foreign exchange trading data, we show that forward-looking expectations accurately predict both currency returns...

We study the determinants of US dollar demand across market participants and traded instruments using survey-based exchange rate and macroeconomic expectations. Leveraging granular FX trading data and forward looking expectations, we present three results. First, currency investors increase...

We study the determinants of US dollar demand across market participants and traded in struments using survey-based exchange rate and macroeconomic expectations. Leveraging granular foreign exchange trading data, we show that forward-looking expectations accu rately predict both currency returns...

How does firms' skill demand change as the business landscape evolves? We present evidence from the green transition by analyzing how hurricanes impact demand for green skills. These disasters signal the risks of not acting on environmental issues. We use data from U.S. online job postings...

How does firms' skill demand change as the business landscape evolves? We present evidence from the green transition by analyzing how hurricanes impact demand for green skills. These disasters signal the risks of not acting on environmental issues. We use data from U.S. online job postings...

Population aging and the sustainability of retirement financing are critical challenges facing many developed economies. In South Korea, elderly poverty remains a critical issue, despite widespread homeownership among older adults. Although the home pension program allows retirees to unlock...

This paper examines how shifts in investor demand influence firm financing and investment decisions. For identification, the paper exploits a large-scale MSCI methodo logical reform that mechanically redefined the stock weights in major international equity benchmark indexes, changing the...