We are living at a time when large language models increasingly make choices once reserved for people. From writing emails to ...

Structural models of default are widely used to analyze corporate bond spreads, but have generally been unable to explain why risk premiums are as high as they are. This credit spread puzzle can be ...

Plastic is now becoming as much of a problem as it has been a solution. Some say the global plastic waste crisis has reached a critical tipping point, that the oceans are swimming with microplastics, ...