[R] ChatGPT In Financial Economics?

I found 2 new research papers that explore Language Models in Financial Economics.

* The first one \[Hansen et al\] shows that LLMs like ChatGPT can decode **Fedspeak** better than human financial experts and BERT-based models.
* The second one \[Lopez-Lira et al\] uses ChatGPT to formulate trading strategies based on sentiment analysis.

I am not an economics expert, but I think both of them have some limitations. For example, the second one does not consider trading costs. What do …

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