New disclosures on the cost of UK state pension protection highlight inadequate retirement saving

Shares in company backed by former Intel chief Pat Gelsinger waver after scaled-back IPO

Leadership and other people skills are only going to rise in value to employers. NoMoreStock/ShutterstockAcross the world, workers are increasingly anxious that artificial intelligence (AI) will make their jobs obsolete. But the evidence from research and industry tells a very different story. AI is not taking over the workplace. Instead, it’s quietly reshaping what human work looks like – and what makes people valuable within it.

Arun Gupta, Horacio Sapriza, and Vladimir YankovWe examine the firm-level and aggregate effects of the collateral channel using administrative bank-firm-loan level data. We introduce novel instrumental variables related to the efficiency of federal district bankruptcy courts and show their importance as predictors of collateral use and banks' expected losses given default across collateral types.