This paper examines whether four AI events between 2022 and 2025 - ChatGPT, GPT-4, the EU AI Act vote, and DeepSeek - changed the behaviour of fourteen US-listed stocks. The focus of the analysis is on two utilities that signed power purchase agreements with large AI companies, Constellation Energy and Vistra, which ar...
G. Caporale, L. Gil-Alana, Alex Medina Sosa· CESifo working papers· 0 citations
This study investigates how the diffusion of Artificial Intelligence (AI) affects the transmission of macroeconomic shocks to asset prices. A new index of AI intensity for US industries is constructed by combining AI patents, the AI content of corporate disclosures, and the AI exposure of occupational mixes; this is th...
Christina Anderl, G. Caporale· CESifo working papers· 0 citations
This paper investigates how Economic Policy Uncertainty (EPU) affects the returns and volatility (proxied by squared returns) of 448 S&P 500 stocks over the period January 2010–December 2020, and whether volatility persistence is related to EPU sensitivity. Persistence is measured with three semiparametric estimators o...
G. Caporale, L. Gil-Alana, Jesus Pantoja Cárdenas· CESifo working papers· 0 citations
SHAP analysis reveals that trading activity, lagged liquidity, and market uncertainty are the main determinants of liquidity forecasts, and the findings highlight the complementary role of explainable machine learning in empirical finance.
Veni Arakelia, G. Caporale, Mirto M Gasparinatou et al.· CESifo working papers· 0 citations
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