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Modelling artificial intelligence in economics
Gries, Thomas; Naudé, Wim - 2021
Economists' two main theoretical approaches to understanding Artificial Intelligence (AI) impacts have been the task-approach to labor markets and endogenous growth theory. Therefore, the recent integration of the task-approach into an endogenous growth model by Acemoglu and Restrepo (AR) is a...
Persistent link: https://www.econbiz.de/10012485853
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The race of man and machine: implications of technology when abilities and demand constraints matter
Gries, Thomas; Naudé, Wim - 2021
In "The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment," Acemoglu and Restrepo (2018b) combine the task-based model of the labor market with an endogenous growth model to model the economic consequences of artificial intelligence (AI). This...
Persistent link: https://www.econbiz.de/10012517812
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Artificial intelligence, income distribution and economic growth
Gries, Thomas; Naudé, Wim - 2020
novel features it is shown that (i) AI automation can decrease the share of labor income no matter the size of the …
Persistent link: https://www.econbiz.de/10012266990
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Artificial intelligence, jobs, inequality and productivity : does aggregate demand matter?
Gries, Thomas; Naudé, Wim - 2018
inequality, and higher productivity growth through automation. In this paper we critically re-assess these predictions by (i …) surveying the recent literature and (ii) incorporating AI-facilitated automation into a product variety-model, frequently used …
Persistent link: https://www.econbiz.de/10011951702
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The race against the robots and the fallacy of the giant cheesecake : immediate and imagined impacts of artificial intelligence
Naudé, Wim - 2019
After a number of AI-winters, AI is back with a boom. There are concerns that it will disrupt society. The immediate concern is whether labor can win a 'race against the robots' and the longer-term concern is whether an artificial general intelligence (super-intelligence) can be controlled. This...
Persistent link: https://www.econbiz.de/10011993083
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The decline in entrepreneurship in the West : is complexity ossifying the economy?
Naudé, Wim - 2019
Entrepreneurship in most advanced economies is in decline. This comes as a surprise: many scholars have expected an upsurge in entrepreneurship. What are the reasons for the decline? In this paper I first document the extent of the decline in terms of entrepreneurial entry rates; the share of...
Persistent link: https://www.econbiz.de/10012110368
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Three varieties of Africa's industrial future
Naudé, Wim - 2019
This paper shows that African economies have generally not de-industrialized, that manufacturing growth is very possible, and moreover that the contribution of manufacturing in Africa has been underestimated. As far as the future is concerned, African countries will in differing degrees...
Persistent link: https://www.econbiz.de/10012122074
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Africa's industrialization prospects : a fresh look
Naudé, Wim; Tregenna, Fiona - 2023
This paper identifies the determinants of industrialization in 18 African countries, 1965 to 2018, using various estimators and applying a battery of robustness checks. Industrialization in Africa is driven by historical legacies such as colonialism; geographical factors such as rainfall and...
Persistent link: https://www.econbiz.de/10014249268
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Artificial Intelligence and the discovery of new ideas : is an economic growth explosion imminent?
Almeida, Derick; Naudé, Wim; Sequeira, Tiago Neves - 2024
Theory predicts that global economic growth will stagnate and even come to an end due to slower and eventually negative growth in population. It has been claimed, however, that Artificial Intelligence (AI) may counter this and even cause an economic growth explosion. In this paper, we critically...
Persistent link: https://www.econbiz.de/10014464111
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How scary is the risk of automation? : evidence from a large scale survey experiment
Cattaneo, Maria Alejandra; Gschwendt, Christian; … - 2024
reduce labor demand in high skilled occupations previously considered "safe" from automation. While initial studies suggest … that individuals adjust their educational and career choices to mitigate automation risk, it is unknown what people would … be willing to pay for a reduced automation risk. This study quantifies this value by assessing individuals' preferences …
Persistent link: https://www.econbiz.de/10014580149