OpenAI plans to release its first open-weight AI model since 2019 as economic pressures mount from competitors like DeepSeek and Meta, marking a significant strategic reversal for the company ...

Abstract: This paper develops a small open economy model in which entrepreneurs partially finance investment using foreign currency–denominated debt subject to an external finance premium. We use ...

In an open-economy model with labor market search frictions and both the intensive and extensive margins, we identify two interrelated inefficiencies in the decentralized allocation. First, a trade ...