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Breakthroughs and backlashes have marked progress in the development and diffusion of Artificial Intelligence (AI). These shocks make the investment in developing an Artificial General Intelligence (AGI) subject to considerable uncertainty. This paper applies a real options model, extended to...
Persistent link: https://www.econbiz.de/10014083861
There is a large literature on earnings and income volatility in labor economics, household finance, and macroeconomics …. One strand of that literature has studied whether individual earnings volatility has risen or fallen in the U.S. over the …. Using common specifications, measures of volatility, and other treatments of the data, four of the six data series show a …
Persistent link: https://www.econbiz.de/10014083846
individuals' sleep time exhibits both variability and volatility characterized by stationary autoregressive conditional … young children at home. Volatility is greater among parents with young children, slightly greater among men than women, but … rates. Volatility in sleep spills over onto volatility in other personal activities, with no reverse causation onto sleep …
Persistent link: https://www.econbiz.de/10014083924
Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...
Persistent link: https://www.econbiz.de/10012947730
This paper investigates the effects of housing price risk on housing choices over the life-cycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10013038587
Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic …
Persistent link: https://www.econbiz.de/10012981503
business cycle volatility, hinting at a stabilizing effect of public employment, while public wages correlate weakly and … positively with business cycle volatility, hinting at a destabilizing effect of public wages. To explain these relationships, we …
Persistent link: https://www.econbiz.de/10012989839
This paper investigates the effects of housing price risk on housing choices over the life-cycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10013138268
Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow … this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks … are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …
Persistent link: https://www.econbiz.de/10013139045
This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … could account for volatility differences across member states, but labor market characteristics have remained very diverse … significant negative effect on output volatility, while replacement rates have a positive effect, both of which are in line with …
Persistent link: https://www.econbiz.de/10013143682