Industrialized countries have long seen relatively stable growth in output per capita and a stable labor share. AI may be transformative, in the sense that it may break one or both of these stylized facts. This review outlines the ways this may happen by placing several strands of the literature...

The economic impact of Artificial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard represen- tative household assumption is rejected,...

The economic impact of Articial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard representative household assumption is rejected, so...

This paper reviews differences between countries in innovation, entrepreneurship, economic development and competitiveness levels. For this examples of the Baltic Sea region countries and China are used. With the introduction of Lisbon agenda and also long before that the European Union has...

This paper aims at identifying relevant indicators for TFP growth in EU countries during the recovery phase following the 2008/09 economic crisis. We proceed in three steps: First, we estimate TFP growth by means of Stochastic Frontier Analysis (SFA). Second, we perform a TFP growth...

This paper focuses on the growth and convergence of Central, Eastern and South-Eastern European EU countries (CESEE). We argue that the factors behind the pre-crisis growth model of the region - skilled yet affordable labour force, foreign direct investment, imports of productivity-enhancing...

In contrast to the very large literature on skill-biased technical change among workers, there is hardly any work on the importance of skills for the entrepreneurs who employ those workers, and in particular on their evolution over time. This paper proposes a simple theory of skill-biased change...

Agriculture and Industry in Brazil is a study of the economics of Brazilian agriculture and industry, with a special focus on the importance of innovation to productivity growth. Albert Fishlow and Jose Eustaquio Ribeiro Vieira Filho examine technological change in Brazil, highlighting the role...

The current wave of technological change based on advancements in artificial intelligence (AI) has created widespread fear of job loss and further rises in inequality. This paper discusses the rationale for these fears, highlighting the specific nature of AI and comparing previous waves of...

This paper evaluates claims about large macroeconomic implications of new advances in AI. It starts from a task-based model of AI's effects, working through automation and task complementarities. So long as AI's microeconomic effects are driven by cost savings/productivity improvements at the...