# References verification log — UQO WP25

Date of verification: 2026-10-27. Tools: Crossref REST API (https://api.crossref.org/works/<DOI> and query.bibliographic), arXiv API (export.arxiv.org/api/query?id_list=), direct HTTP fetch of publisher / RePEc / FSB / BIS / Yale UP pages, WebFetch for pages that refuse plain curl (IMF). Rule applied: an entry enters paper/references.bib only if its bibliographic record was returned by one of these sources; page ranges are included only when the source returns a range (JSTOR-indexed Econometrica/QJE/Bell records return the first page only, in which case pages is omitted). Nothing was taken from memory alone.

# Verified entries (in paper/references.bib)

Counts: 130 entries in references.bib — 110 verified by Crossref DOI lookup, 15 verified by arXiv API, 5 verified by other means (RePEc record, Yale UP catalogue, FSB page, IMF page, BIS page).

# Excluded (unverifiable) — NOT in references.bib

# Verified but pruned for length (available for later use; not in references.bib)

Each of the following was returned by Crossref (DOI shown) or the arXiv API on 2026-10-27 but was dropped to keep the bibliography within the 90–130 target. They can be re-added without further checking.

• lucas1972expectations — Expectations and the neutrality of money (1972) — DOI 10.1016/0022-0531(72)90142-1
• stiglitz1982inefficiency — The Inefficiency of the Stock Market Equilibrium (1982) — DOI 10.2307/2297273
• auclert2019monetary — Monetary Policy and the Redistribution Channel (2019) — DOI 10.1257/aer.20160137
• benhabib2011distribution — The Distribution of Wealth and Fiscal Policy in Economies With Finitely Lived Agents (2011) — DOI 10.3982/ecta8416
• gabaix2016dynamics — The Dynamics of Inequality (2016) — DOI 10.3982/ecta13569
• acemoglu2019automation — Automation and New Tasks: How Technology Displaces and Reinstates Labor (2019) — DOI 10.1257/jep.33.2.3
• acemoglu2020robots — Robots and Jobs: Evidence from US Labor Markets (2020) — DOI 10.1086/705716
• autor2003skill — The Skill Content of Recent Technological Change: An Empirical Exploration (2003) — DOI 10.1162/003355303322552801
• hemous2022rise — The Rise of the Machines: Automation, Horizontal Innovation, and Income Inequality (2022) — DOI 10.1257/mac.20160164
• noy2023experimental — Experimental evidence on the productivity effects of generative artificial intelligence (2023) — DOI 10.1126/science.adh2586
• babina2024artificial — Artificial intelligence, firm growth, and product innovation (2024) — DOI 10.1016/j.jfineco.2023.103745
• lucas1988mechanics — On the mechanics of economic development (1988) — DOI 10.1016/0304-3932(88)90168-7
• trammell2023economic — Economic Growth under Transformative AI (2023) — DOI 10.3386/w31815
• crawford1982strategic — Strategic Information Transmission (1982) — DOI 10.2307/1913390
• jensen1976theory — Theory of the firm: Managerial behavior, agency costs and ownership structure (1976) — DOI 10.1016/0304-405x(76)90026-x
• shleifer1997limits — The Limits of Arbitrage (1997) — DOI 10.1111/j.1540-6261.1997.tb03807.x
• fostel2008leverage — Leverage Cycles and the Anxious Economy (2008) — DOI 10.1257/aer.98.4.1211
• adrian2010liquidity — Liquidity and leverage (2010) — DOI 10.1016/j.jfi.2008.12.002
• gromb2002equilibrium — Equilibrium and welfare in markets with financially constrained arbitrageurs (2002) — DOI 10.1016/s0304-405x(02)00228-3
• bianchi2011overborrowing — Overborrowing and Systemic Externalities in the Business Cycle (2011) — DOI 10.1257/aer.101.7.3400
• grossman1976efficiency — ON THE EFFICIENCY OF COMPETITIVE STOCK MARKETS WHERE TRADES HAVE DIVERSE INFORMATION (1976) — DOI 10.1111/j.1540-6261.1976.tb01907.x
• vives1993fast — How Fast do Rational Agents Learn? (1993) — DOI 10.2307/2298060
• admati1985noisy — A Noisy Rational Expectations Equilibrium for Multi-Asset Securities Markets (1985) — DOI 10.2307/1911659
• glosten1985bid — Bid, ask and transaction prices in a specialist market with heterogeneously informed trade (1985) — DOI 10.1016/0304-405x(85)90044-3
• amador2010learning — What Fiscal Policy Is Effective at Zero Interest Rates? (2011) — DOI 10.1086/657529
• angeletos2010noisy — Noisy Business Cycles (2010) — DOI 10.1086/648301
• kacperczyk2016rational — A Rational Theory of Mutual Funds' Attention Allocation (2016) — DOI 10.3982/ecta11412
• vannieuwerburgh2010information — Information Acquisition and Under-Diversification (2010) — DOI 10.1111/j.1467-937x.2009.00583.x
• mackowiak2009optimal — Optimal Sticky Prices under Rational Inattention (2009) — DOI 10.1257/aer.99.3.769
• mackowiak2023rational — Rational Inattention: A Review (2023) — DOI 10.1257/jel.20211524
• myatt2012endogenous — Endogenous Information Acquisition in Coordination Games (2011) — DOI 10.1093/restud/rdr018
• hellwig2012information — Information Choice Technologies (2012) — DOI 10.1257/aer.102.3.35
• bikhchandani1992theory — A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades (1992) — DOI 10.1086/261849
• acharya2007too — Too many to fail—An analysis of time-inconsistency in bank closure policies (2007) — DOI 10.1016/j.jfi.2006.06.001
• budish2015high — The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response (2015) — DOI 10.1093/qje/qjv027
• brogaard2014high — High-Frequency Trading and Price Discovery (2014) — DOI 10.1093/rfs/hhu032
• hendershott2011does — Does Algorithmic Trading Improve Liquidity? (2011) — DOI 10.1111/j.1540-6261.2010.01624.x
• goldstein2021big — Big Data in Finance (2021) — DOI 10.1093/rfs/hhab038
• kelly2023financial — Financial Machine Learning (2023) — DOI 10.1561/0500000064
• gu2020empirical — Empirical Asset Pricing via Machine Learning (2020) — DOI 10.1093/rfs/hhaa009
• argyle2023out — Out of One, Many: Using Language Models to Simulate Human Samples (2023) — DOI 10.1017/pan.2023.2
• manning2024automated — Automated Social Science: Language Models as Scientist and Subjects (2024) — DOI 10.3386/w32381
• charness2023generation — Generation Next: Experimentation with AI (2023) — DOI 10.3386/w31679
• anderson2024homogenization — Homogenization Effects of Large Language Models on Human Creative Ideation (2024) — DOI 10.1145/3635636.3656204
• kirilenko2013moore — Moore's Law versus Murphy's Law: Algorithmic Trading and Its Discontents (2013) — DOI 10.1257/jep.27.2.51
• lebaron1999time — Time series properties of an artificial stock market (1999) — DOI 10.1016/s0165-1889(98)00081-5
• lux1999scaling — Scaling and criticality in a stochastic multi-agent model of a financial market (1999) — DOI 10.1038/17290
• poledna2023economic — Economic forecasting with an agent-based model (2023) — DOI 10.1016/j.euroecorev.2022.104306
• smith1962experimental — An Experimental Study of Competitive Market Behavior (1962) — DOI 10.1086/258609
• besiroglu2024economic — Economic impacts of AI-augmented R&D (2024) — DOI 10.1016/j.respol.2024.105037
• sevilla2022compute — Compute Trends Across Three Eras of Machine Learning (2022) — DOI 10.1109/ijcnn55064.2022.9891914
• korinek2019artificial — Artificial Intelligence and Its Implications for Income Distribution and Unemployment (2019) — DOI 10.7208/chicago/9780226613475.003.0014
• korinek2023generative — Generative AI for Economic Research: Use Cases and Implications for Economists (2023) — DOI 10.1257/jel.20231736
• ludwig2025large — Large Language Models: An Applied Econometric Framework (2025) — DOI 10.3386/w33344
• jha2024chatgpt — ChatGPT and Corporate Policies (2024) — DOI 10.3386/w32161
• hennessy2023goodhart — GOODHART'S LAW AND MACHINE LEARNING: A STRUCTURAL PERSPECTIVE (2023) — DOI 10.1111/iere.12633
• jones2022end — The End of Economic Growth? Unintended Consequences of a Declining Population (2022) — DOI 10.1257/aer.20201605
• humlum2025large — Large Language Models, Small Labor Market Effects (2025) — DOI 10.2139/ssrn.5219933
• hampole2025artificial — Artificial Intelligence and the Labor Market (2025) — DOI 10.3386/w33509
• gao2024large — Large language models empowered agent-based modeling and simulation: a survey and perspect (2024) — DOI 10.1057/s41599-024-03611-3
• pedersen2022game — Game On: Social Networks and Markets (2021) — DOI 10.2139/ssrn.3794616
• dou2025human — Human Edge, Machine Limits: AI-Human Competition in Financial Markets (2025) — DOI 10.2139/ssrn.5866104
• agrawal2024artificial — Artificial intelligence adoption and system‐wide change (2023) — DOI 10.1111/jems.12521
• cao2024ai — From Man vs. Machine to Man + Machine: The art and AI of stock analyses (2024) — DOI 10.1016/j.jfineco.2024.103910
• aldasoro2024intelligent — Intelligent financial system: How AI is transforming finance (2025) — DOI 10.1016/j.jfs.2025.101472
• haldane2011systemic — Systemic risk in banking ecosystems (2011) — DOI 10.1038/nature09659
• acemoglu2024learning — Learning from Ricardo and Thompson: Machinery and Labor in the Early Industrial Revolution (2024) — DOI 10.3386/w32416
• hansen2025simulating — Simulating the Survey of Professional Forecasters (2025) — DOI 10.2139/ssrn.5066286
• brand2023using — Using LLMs for Market Research (2023) — DOI 10.2139/ssrn.4395751
• amador2010learning — Learning from Prices: Public Communication and Welfare (2010) — DOI 10.1086/657923
• angeletos2016incomplete — Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination (2016) — DOI 10.3386/w22297
• acemoglu2022too — Too Much Data: Prices and Inefficiencies in Data Markets (2022) — DOI 10.1257/mic.20200200
• cheng2025chatgpt — Does Generative AI Facilitate Investor Trading? Early Evidence from ChatGPT Outages (2024) — DOI 10.2139/ssrn.4872189
• bianchi2021robo — Robo-Advising: Less AI and More XAI? (2021) — DOI 10.2139/ssrn.3825110
• woodford2003imperfect — 1. Imperfect Common Knowledge and the Effects of Monetary Policy (2003) — DOI 10.1515/9780691223933-004
• bergemann2019markets — Markets for Information: An Introduction (2018) — DOI 10.2139/ssrn.3240310
• frimpong2026model — Model Monoculture Risk: Systemic AI Convergence in Banking and Financial Markets (2026) — DOI 10.3390/fintech5030078
• thompson2020computational — The Computational Limits of Deep Learning (2020) — arXiv:2007.05558
• danielsson2023use — On the use of artificial intelligence in financial regulations and the impact on financial (2023) — arXiv:2310.11293
• aher2023using — Using Large Language Models to Simulate Multiple Humans and Replicate Human Subject Studie (2022) — arXiv:2208.10264
• erdil2023explosive — Explosive growth from AI automation: A review of the arguments (2023) — arXiv:2309.11690
• zhang2024stockagent — When AI Meets Finance (StockAgent): Large Language Model-based Stock Trading in Simulated (2024) — arXiv:2407.18957
• xiao2024tradingagents — TradingAgents: Multi-Agents LLM Financial Trading Framework (2024) — arXiv:2412.20138
• gabriele2025heterogeneous — Heterogeneous RBCs via Deep Multi-Agent Reinforcement Learning (2025) — arXiv:2510.12272
• li2026state — State-dependent error correlations shape voting thresholds in committees of AI agents (2026) — arXiv:2607.23931
• bommasani2021opportunities — On the Opportunities and Risks of Foundation Models (2021) — arXiv:2108.07258
• zhang2026welfare — Welfare-Opaque Income: Taxation under AI-Agent Delegation (2026) — arXiv:2609.20425
• toledo2026algorithmic — Algorithmic Intermediation and the International Transmission of U.S. Monetary Policy (2026) — arXiv:2607.15385
• meng2026cognitive — Cognitive Debt: AI as Intellectual Leverage and the Dynamics of Systemic Fragility (2026) — arXiv:2606.15078
• fsb2025monitoring — FSB, Monitoring Adoption of Artificial Intelligence and Related Vulnerabilities in the Financial Sector (Oct 2025) — fsb.org page fetched, HTTP 200
• ecb2024rise — ECB Financial Stability Review May 2024 special feature, The rise of artificial intelligence: benefits and risks for financial stability — ecb.europa.eu page fetched, HTTP 200
• boe2025artificial — Bank of England, Financial Stability in Focus: Artificial intelligence in the financial system (April 2025) — bankofengland.co.uk page fetched, HTTP 200

# Addendum 2026-10-27 (calibration-section sources)

Rows 131--144 above were added on 2026-10-27 for the fourteen sources cited in prose by the calibration section (fernald2014quarterly, mehra1985equity, chetty2011are, floden2001idiosyncratic, storesletten2004consumption, gorton2012securitized, oberfield2021micro, karabarbounis2014global, hobbhahn2022trends, cottier2025llm, iea2025energy, acemoglu2019automation, myatt2012endogenous, gabaix2016dynamics). Same discipline as above: Crossref REST API for every DOI, direct HTTP fetch (WebFetch and curl) for the FRBSF, Epoch AI and IEA pages. All fourteen entered paper/references.bib; none was excluded.