



Introduction Bitcoin prices peaked at $125,000 on October 6, 2025. Four days later, on October 10, crypto markets experienced their largest deleveraging episode on record: more than $19 billion in leveraged positions were liquidated within 24 hours. The selloff was…

The recent selloff of Blue Owl and firms like it after a redemption at one of its retail private credit funds has become the poster child for growing anxiety about the health of private credit markets. Private credit has grown…

Introduction The U.S. Supreme Court’s decision on Friday, February 20, 2026, to declare as unconstitutional the country-specific tariffs imposed by President Trump by executive order based on the International Emergency Economic Powers Act of 1977 (IEEPA) settled one question and…

Autonomous systems capable of perceiving, reasoning, and acting toward goals with minimal human intervention—Agentic AI—is rapidly emerging as a transformative force in enterprise technology strategy. Unlike traditional Al, which typically responds to prompts or executes predefined tasks, Al agents possess…

Artificial intelligence (AI) has reached an inflection point. Compute capacity has increased by more than 600 times in six years, while AI performance now exceeds human baselines on standardized assessments including the bar exam, LSAT, and GRE. [1] Roughly 95…

The Andersen Institute partnered with Andersen Consulting’s AI & Advanced Analytics practice to understand how the largest U.S. tariff increase since the Great Depression was affecting corporate behavior and profitability. Using Palantir Foundry and frontier large language models (LLMs), researchers…

We develop and estimate a new model of endogenous growth in bank efficiency and firm productivity in which banks adopt technology embedded in capital goods produced by entrepreneurs, and agents choose whether to become workers or capital good-producing entrepreneurs. In…


There are moments when bond markets reprice due to inflation or growth dynamics. And then there are moments when they reprice because the underlying foundations of the market are reassessed. We may be approaching the latter. U.S. Treasuries have been…

The banking turmoil of March to May 2023 has led to questions about whether the behaviour of non-maturity deposits (NMDs) has changed. The unusually fast bank depositor outflows amidst depositor panics in 2023 could have been affected by a variety…