We uncover momentum and reversal patterns in half-day option returns that persist for up to at least 20 business days, with economic magnitudes of 0.22% to 0.45% per half-day. Specifically, returns show strong momentum within the same period (e.g., intraday-to-intraday) but reverse sharply...

We uncover momentum and reversal patterns in half-day option returns that persist for up to at least 20 business days, with economic magnitudes of 0.22% to 0.45% per half-day. Specifically, returns show strong momentum within the same period (e.g., intraday-to-intraday) but reverse sharply...

Large language models (LLMs) are increasingly promoted to practitioners as tools for inferring personality traits from LinkedIn profiles, promising scalable and innovative assessments. Yet, the psychometric foundations of such inferences remain untested. Building on the lens model, we presented...

Does the Federal Reserve react to all inflation equally? We systematically analyze FOMC meeting records from 1937 to 2025 to construct meeting-level measures of the Fed's real-time attribution of inflation to demand and supply pressures. We document substantial variation in these narratives over...

This paper provides novel evidence on the key drivers of job satisfaction. We ask individuals to describe, in their own words, what they like and dislike about their jobs. These open-ended questions allow us to capture what comes to mind most naturally. We analyze the resulting free-text...