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Automation and Its Macroeconomic Consequences

Author: Klaus Prettner

Publisher: Academic Press

Published: 2020-06-19

Total Pages: 248

ISBN-13: 0128180293

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Automation and Its Macroeconomic Consequences reveals new ways to understand the economic characteristics of our increasing dependence on machines. Illuminating technical and social elements, it describes economic policies that could counteract negative income distribution consequences of automation without hampering the adoption of new technologies. Arguing that modern automation cannot be compared to the Industrial Revolution, it considers consequences of automation such as spatial patterns, urbanization, and regional concerns. In touching upon labor, growth, demographic, and policy, Automation and its Macroeconomic Consequences stands at the intersection of technology and economics, offering a comprehensive portrait illustrated by empirical observations and examples. Introduces formal growth models that include automation and the empirical specifications on which the data-driven results rely Focuses on formal modeling, empirical analysis and derivation of evidence-based policy conclusions Considers consequences of automation, such as spatial patterns, urbanization and regional concerns

Book Synopsis Automation and Its Macroeconomic Consequences by : Klaus Prettner

Download or read book Automation and Its Macroeconomic Consequences written by Klaus Prettner and published by Academic Press. This book was released on 2020-06-19 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Automation and Its Macroeconomic Consequences reveals new ways to understand the economic characteristics of our increasing dependence on machines. Illuminating technical and social elements, it describes economic policies that could counteract negative income distribution consequences of automation without hampering the adoption of new technologies. Arguing that modern automation cannot be compared to the Industrial Revolution, it considers consequences of automation such as spatial patterns, urbanization, and regional concerns. In touching upon labor, growth, demographic, and policy, Automation and its Macroeconomic Consequences stands at the intersection of technology and economics, offering a comprehensive portrait illustrated by empirical observations and examples. Introduces formal growth models that include automation and the empirical specifications on which the data-driven results rely Focuses on formal modeling, empirical analysis and derivation of evidence-based policy conclusions Considers consequences of automation, such as spatial patterns, urbanization and regional concerns

The Economics of Artificial Intelligence

Author: Ajay Agrawal

Publisher: University of Chicago Press

Published: 2024-03-05

Total Pages: 172

ISBN-13: 0226833127

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A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Book Synopsis The Economics of Artificial Intelligence by : Ajay Agrawal

Download or read book The Economics of Artificial Intelligence written by Ajay Agrawal and published by University of Chicago Press. This book was released on 2024-03-05 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Automation

Author: Friedrich Pollock

Publisher:

Published: 1957

Total Pages: 276

ISBN-13:

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Book Synopsis Automation by : Friedrich Pollock

Download or read book Automation written by Friedrich Pollock and published by . This book was released on 1957 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Macroeconomic Consequences of Artificial Intelligence

Author: Xu Huang

Publisher:

Published: 2019

Total Pages:

ISBN-13:

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The authors explore the impact of artificial intelligence on the economy by improving the neoclassical production function and the task-based model. Based on the capital accumulation of artificial intelligence and technological progress, they present a theoretical model that explores the effect of alternative and complementary artificial intelligence on wages, capital prices, labor share, capital share and economic growth. The model shows that artificial intelligence capital lowers the capital prices and increases wages. In addition, if artificial intelligence and labor force are complementary, artificial intelligence capital has a positive impact on labor share, but if artificial intelligence and labor force can substitute each other, labor share is negatively influenced by artificial intelligence capital. The authors extend the task-based model and find that technological progress increases both wages and labor share by generating new tasks. In the long run, without consideration of exogenous technology, as the artificial intelligence capital accumulates, per capita output, per capita traditional capital and per capita artificial intelligence capital grow at the same rate, and economic growth finally reaches steady state equili- brium. With exogenous technology considered, artificial intelligence technology improves, and sustained economic growth is achieved.

Book Synopsis The Macroeconomic Consequences of Artificial Intelligence by : Xu Huang

Download or read book The Macroeconomic Consequences of Artificial Intelligence written by Xu Huang and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors explore the impact of artificial intelligence on the economy by improving the neoclassical production function and the task-based model. Based on the capital accumulation of artificial intelligence and technological progress, they present a theoretical model that explores the effect of alternative and complementary artificial intelligence on wages, capital prices, labor share, capital share and economic growth. The model shows that artificial intelligence capital lowers the capital prices and increases wages. In addition, if artificial intelligence and labor force are complementary, artificial intelligence capital has a positive impact on labor share, but if artificial intelligence and labor force can substitute each other, labor share is negatively influenced by artificial intelligence capital. The authors extend the task-based model and find that technological progress increases both wages and labor share by generating new tasks. In the long run, without consideration of exogenous technology, as the artificial intelligence capital accumulates, per capita output, per capita traditional capital and per capita artificial intelligence capital grow at the same rate, and economic growth finally reaches steady state equili- brium. With exogenous technology considered, artificial intelligence technology improves, and sustained economic growth is achieved.

Structural Change, Market Concentration, and Inequality

Author: Yasuyuki Osumi

Publisher: Springer Nature

Published:

Total Pages: 169

ISBN-13: 981970930X

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Book Synopsis Structural Change, Market Concentration, and Inequality by : Yasuyuki Osumi

Download or read book Structural Change, Market Concentration, and Inequality written by Yasuyuki Osumi and published by Springer Nature. This book was released on with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Macroeconomics in the Wake of the Global Financial Crisis

Author: Laurent Ferrara

Publisher: Springer

Published: 2018-06-13

Total Pages: 298

ISBN-13: 3319790757

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This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara

Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

The Routledge Handbook of the Economics of Ageing

Author: David E. Bloom

Publisher: Taylor & Francis

Published: 2023-08-16

Total Pages: 799

ISBN-13: 1000812774

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Ageing populations pose some of the foremost global challenges of this century. Drawing on an international pool of scholars, this cutting-edge Handbook surveys the micro, macro and institutional aspects of the economics of ageing. Structured in seven parts, the volume addresses a broad range of themes, including health economics, labour economics, pensions and social security, generational accounting, wealth inequality and regional perspectives. Each chapter combines a succinct overview of the state of current research with a sketch of a promising future research agenda. This Handbook will be an essential resource for advanced students, researchers and policymakers looking at the economics of ageing across the disciplines of economics, demography, public policy, public health and beyond. Chapter 37 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution (CC-BY) 4.0 license.

Book Synopsis The Routledge Handbook of the Economics of Ageing by : David E. Bloom

Download or read book The Routledge Handbook of the Economics of Ageing written by David E. Bloom and published by Taylor & Francis. This book was released on 2023-08-16 with total page 799 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ageing populations pose some of the foremost global challenges of this century. Drawing on an international pool of scholars, this cutting-edge Handbook surveys the micro, macro and institutional aspects of the economics of ageing. Structured in seven parts, the volume addresses a broad range of themes, including health economics, labour economics, pensions and social security, generational accounting, wealth inequality and regional perspectives. Each chapter combines a succinct overview of the state of current research with a sketch of a promising future research agenda. This Handbook will be an essential resource for advanced students, researchers and policymakers looking at the economics of ageing across the disciplines of economics, demography, public policy, public health and beyond. Chapter 37 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution (CC-BY) 4.0 license.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author: El Bachir Boukherouaa

Publisher: International Monetary Fund

Published: 2021-10-22

Total Pages: 35

ISBN-13: 1589063953

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This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Book Synopsis Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by : El Bachir Boukherouaa

Download or read book Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

The SAGE Handbook of Digital Society

Author: William Housley

Publisher: SAGE

Published: 2022-11-23

Total Pages: 669

ISBN-13: 1529789133

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This SAGE Handbook brings together cutting edge social scientific research and theoretical insight into the emerging contours of digital society. Chapters explore the relationship between digitisation, social organisation and social transformation at both the macro and micro level, making this a valuable resource for postgraduate students and academics conducting research across the social sciences. The topics covered are impressively far-ranging and timely, including machine learning, social media, surveillance, misinformation, digital labour, and beyond. This innovative Handbook perfectly captures the state of the art of a field which is rapidly gaining cross-disciplinary interest and global importance, and establishes a thematic framework for future teaching and research. Part 1: Theorising Digital Societies Part 2: Researching Digital Societies Part 3: Sociotechnical Systems and Disruptive Technologies in Action Part 4: Digital Society and New Social Dilemmas Part 5: Governance and Regulation Part 6: Digital Futures

Book Synopsis The SAGE Handbook of Digital Society by : William Housley

Download or read book The SAGE Handbook of Digital Society written by William Housley and published by SAGE. This book was released on 2022-11-23 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: This SAGE Handbook brings together cutting edge social scientific research and theoretical insight into the emerging contours of digital society. Chapters explore the relationship between digitisation, social organisation and social transformation at both the macro and micro level, making this a valuable resource for postgraduate students and academics conducting research across the social sciences. The topics covered are impressively far-ranging and timely, including machine learning, social media, surveillance, misinformation, digital labour, and beyond. This innovative Handbook perfectly captures the state of the art of a field which is rapidly gaining cross-disciplinary interest and global importance, and establishes a thematic framework for future teaching and research. Part 1: Theorising Digital Societies Part 2: Researching Digital Societies Part 3: Sociotechnical Systems and Disruptive Technologies in Action Part 4: Digital Society and New Social Dilemmas Part 5: Governance and Regulation Part 6: Digital Futures

Handbook on Globalisation and Labour Standards

Author: Elliott, Kimberly A.

Publisher: Edward Elgar Publishing

Published: 2022-03-15

Total Pages: 464

ISBN-13: 1788977378

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This comprehensive Handbook explores the complex and volatile debate over globalisation and labour standards. It offers key insights into the impact of globalisation on workers, the obligations of corporations and international legal bodies in protecting workers’ rights and maximising the opportunities offered by international trade and investment.

Book Synopsis Handbook on Globalisation and Labour Standards by : Elliott, Kimberly A.

Download or read book Handbook on Globalisation and Labour Standards written by Elliott, Kimberly A. and published by Edward Elgar Publishing. This book was released on 2022-03-15 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook explores the complex and volatile debate over globalisation and labour standards. It offers key insights into the impact of globalisation on workers, the obligations of corporations and international legal bodies in protecting workers’ rights and maximising the opportunities offered by international trade and investment.