But let's blame AI
> Prompt: Attached is a paper. Below is an argument made against it. Is there anything in the paper that addresses the argument?: High interest rates + tariff terror -> less investment -> less jobs
> High rates/firm shocks: They add firm–time fixed effects that absorb broad firm shocks (like interest-rate changes), and the within-firm drop for 22–25-year-olds in AI-exposed roles remains.
> “Less investment” story: They note the 2022 §174 R&D amortization change and show the pattern persists even after excluding computer occupations and information-sector firms.
> Other non-AI explanations: The decline shows up in both teleworkable and non-teleworkable jobs and isn’t explained by pandemic-era education issues.
> Tariffs: Tariffs aren’t analyzed directly; broad tariff impacts would be soaked up by the firm–time controls, but a tariff-specific, task-level channel isn’t separately tested.