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EERN Research

EERN provides a research repository of Federal Reserve content on emerging technologies and the economy, as well as economic research conducted using artificial intelligence and machine learning. An archive of selected research authored or co-authored by Federal Reserve economists can be found on this page.

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Federal Reserve Research: Chicago
Firm Growth from the Artificial Intelligence Boom

Joel David, Gustavo de Souza, Adalyn Schommer

Federal Reserve Research: Board of Governors
The AI-GPR Index: Measuring Geopolitical Risk using Artificial Intelligence

Matteo Iacoviello, Jonathan Tong

Federal Reserve Research: St. Louis
Why AI Advancements May Push Some Workers Out of the Labor Force

Oksana Leukhina

Federal Reserve Research: Dallas
Young Workers’ Employment Drops in Occupations with High AI Exposure

Tyler Atkinson, Shane Yamco

Federal Reserve Research: Kansas City
What Do LLMs Want?

Thomas R. Cook, Sophia Kazinnik, Zach Modig, Nathan M. Palmer

Federal Reserve Research: Board of Governors
Artificial Intelligence Innovation by Financial Innovators: Evidence from US Patents

Jean Xiao Timmerman

Federal Reserve Research: St. Louis
Tracking AI’s Contribution to GDP Growth

Hannah Rubinton, Bontu Ankit Patro

Federal Reserve Research: San Francisco
ChatMacro: Evaluating Inflation Forecasts of Generative AI

M. Jahangir Alam, Shane Boyle, Huiyu Li, Tatevik Sekhposyan

Federal Reserve Research: Board of Governors
The State of AI Competition in Advanced Economies

Alex Haag

Federal Reserve Research: Board of Governors
Estimating Aggregate Data Center Investment with Project-level Data

Eirik Eylands Brandsaas, Daniel Garcia, Robert Kurtzman, Joseph Nichols, Adelia Zytek

Federal Reserve Research: St. Louis
The State of Generative AI Adoption in 2025

Alexander Bick, Adam Blandin, David Deming

Federal Reserve Research: Board of Governors
Teaching to the Test: Evaluating the Performance of Generative AI Models for Economic Analysis is Harder than You Think

Wendy Dunn, Ellen Meade, Nitish Sinha, Raakin Kabir

Federal Reserve Research: Atlanta
Firm-Level Input Price Changes and Their Effects: A Deep Learning Approach

Sudheer Chava, Wendi Du, Indrajit Mitra, Agam Shah, Linghang Zeng

Federal Reserve Research: San Francisco
On-the-Job Exposure to AI Among Lower-Income Workers

Elizabeth Kneebone, Natalie Holmes

Federal Reserve Research: Richmond
Artificial Intelligence and Technological Unemployment

Ping Wang, Tsz-Nga Wong

Federal Reserve Research: Kansas City
Bargaining over Words? Text Analysis of a Model of Monetary Policy by a Committee

Hie Joo Ahn, Thomas R. Cook, Taeyoung Doh

Federal Reserve Research: Minneapolis
Job Transformation, Specialization, and the Labor Market Effects of AI

Lukas B. Freund, Lukas F. Mann

Federal Reserve Research: Board of Governors
Financial Stability Implications of Generative AI: Taming the Animal Spirits

Anne Lundgaard Hansen, Seung Jung Lee

Federal Reserve Research: Board of Governors
Can LLMs Improve Sanctions Screening in the Financial System? Evidence from a Fuzzy Matching Assessment

Jeffrey S. Allen, Max S. S. Hatfield

Federal Reserve Research: St. Louis
The Impact of Generative AI on Work Productivity

Alexander Bick, Adam Blandin, David Deming