The post examines how transformer models may learn economic relationships and predict policy shifts, while highlighting the ongoing relevance of the Lucas critique in economic modeling.
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Arpit Gupta is an NYU Stern finance professor interested in real estate and urban economics, advocating for lower housing rents.
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AI in credit risk assessment enhances prediction and access but introduces new risks and competitive challenges, necessitating a hybrid approach to model implementation.
AI in finance faces challenges like hallucinations and requires human oversight, but tools like Retrieval Augmented Generation can enhance document processing and insights.
Remote work boosts productivity for startups but reduces it for established firms, highlighting significant differences in how various organizations adapt to remote work dynamics.
A new course on AI in Finance at NYU Stern explores the intersection of economics and AI, highlighting its applications and challenges in financial decision-making.
0Wall Street Investors Enter Single Family Rentals
2024-11-04 •
The text discusses the impact of large-scale institutional investors on the single-family rental market. It highlights the entry of Wall Street investors into the rental landscape, their cost advantages, market power, and the effe...
0Measuring Housing Regulations at Scale
2024-09-15 •
The text discusses the challenges of measuring housing regulations at the municipal level and presents two approaches used by researchers to measure housing regulations. It also introduces a new method called Generative Regulatory...
The text discusses the housing affordability problem in the US, particularly for young buyers, due to high house prices and rents. It highlights the issue of empty nesters owning large homes, while younger families struggle to aff...
0The Rise of Rapid Regional Rail
2024-05-26 •
The rise of rapid regional rail is an exciting new layer of rail services for urban areas, primarily taking off in Europe and Asia. It is an extension of commuter rail services to towns and regions even more far-flung from the urb...
0Contra Strong Towns
2024-05-18 •
The text discusses the advocacy organization Strong Towns and its argument about the unsustainability of suburban sprawl. The author disagrees with the organization's claims, arguing that suburbs are not Ponzi schemes and that cit...
0Unlock a Housing Boom through Depreciation Bonuses
2024-02-13 •
The text discusses the impact of tax laws on commercial real estate production, particularly focusing on the depreciation of commercial real estate. It explains how tax reforms in the 1980s led to a boom in construction and how su...
0Why FinTech Failed
2024-01-30 •
The text discusses the failure of FinTech to deliver on its promise of expanding financial inclusion, improving financial stability, and lowering financial industry profits. The author argues that despite technological advancement...
0The Bronze Trade Origins of Cities
2024-01-23 •
The text discusses the origins of complex urban civilization and the emergence of the first true cities in the 4th millennium BC. It explores the role of bronze in the emergence of cities and the trade networks that developed arou...
0The Goods-Services Rotation Theory of Inflation
2024-01-01 •
The text discusses the goods-services rotation theory of inflation and how the pandemic has affected inflation and macro trends over the last several years. It emphasizes supply shocks in the services sector as a result of the pan...
0Office to Residential Conversions
2023-11-05 •
The text discusses the prospect of converting obsolete office space to residential uses due to the urban exodus and remote work. It evaluates the economic reasons for these conversions, the challenges involved, and the role of pol...
0Rethinking Public Procurement
2023-09-15 •
The text discusses the failures and high costs of government procurement in various sectors, such as payroll software for schools, infrastructure, and unemployment insurance systems. It highlights the lack of competition, excessiv...
0What's Going on with China's Stagnation?
2023-08-21 •
The text discusses the stagnation in Chinese growth and the ongoing debate between two schools of thought behind why China is now facing growth hurdles. The author presents four different stories that are relevant to the issue, in...
0Correcting the "Europe is Stagnant" Narrative
2023-08-14 •
The text corrects the narrative of Europe being stagnant and bad, highlighting important strengths and weaknesses in Europe and the US. It discusses the economic situation in Europe, the success of European companies, infrastructu...
The text discusses the distress in Commercial Real Estate (CRE) due to the need for refinancing of commercial property debt, rising delinquency rates on commercial mortgages, and the impact on regional banks. It also highlights th...
0The Newer Geography of Jobs
2023-02-07 •
The text discusses the potential impact of remote work on real estate markets and cities, and the different choices companies are making regarding remote work. It also explores the regional patterns of remote work plans and the po...
0A Harberger Tax on Patents
2022-12-11 •
The text discusses new obesity breakthrough drugs that show large reductions in body weight, their impacts, side effects, and the model of delivery. It also explores the economic problem behind innovation and suggests a Harberger ...
The text discusses the research of two PhD students, Iris Yao and Samantha Zeller. Iris studies the household responses to macroprudential policy in Canada, finding that households manipulate their non-mortgage debt around debt th...
0Loss for Prediction Markets in the Election
2022-11-10 •
The text discusses the performance of poll aggregation vs prediction markets in forecasting electoral results, and the potential of prediction markets to clean up biases and punditry. It compares the accuracy of prediction markets...
0The State of Remote Working Research
2022-10-17 •
The text discusses the state of remote work based on research presented at a conference. It covers various aspects of remote work, including productivity, managerial expectations, hybrid work, and the impact on economic activity a...