Showing 1 - 10 of 18,006
savings and investment. Jointly with meagre productivity growth, this implies a low natural rate of interest that conditions … the effectiveness of monetary and fiscal policies, especially in a world of high debt. New technological changes (robots …, artificial intelligence, automation) may increase productivity growth but at the risk of having disruptive effects on employment …
Persistent link: https://www.econbiz.de/10012033383
growth for the transitional dynamics. We find that i) higher survival induces economic growth through higher savings and …, and iv) there exists a growth-maximizing size of the health caresector that might lie beyond what is observed in most … growth and contribute to the debate surroundingrising health shares and economic development. …
Persistent link: https://www.econbiz.de/10012430654
We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by … purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising … the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on …
Persistent link: https://www.econbiz.de/10012156427
of ICTs and growth of the French economy over the past two decades; a structural perspective on the roots of the new …
Persistent link: https://www.econbiz.de/10005650247
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
We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by … purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising … the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on …
Persistent link: https://www.econbiz.de/10012195541
inequality, and higher productivity growth through automation. In this paper we critically re-assess these predictions by (i … in endogenous growth theory, but modified to allow for demand-side constraints. This is a novel approach, given that … endogenous growth models, and including most recent work on AI in economic growth, are largely supply-driven. Our contribution is …
Persistent link: https://www.econbiz.de/10011951702
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 analyse this claim. We clarify how AI affects the ideas production …
Persistent link: https://www.econbiz.de/10014464111
In a recent paper, Bloom et al. (2020) find evidence for a substantial decline in research productivity in the U.S. economy during the last 40 years. In this paper, we replicate their findings for China and Germany, using detailed firm-level data spanning three decades. Our results indicate that...
Persistent link: https://www.econbiz.de/10012239797
Despite an increasing recognition of the importance of health for economic growth, there is still a lack of … economic growth and which non-linearities matter in this context? To answer these questions, we propose an R&D-based economic … growth model with overlapping generations in which life expectancy depends on health care utilization per capita and on …
Persistent link: https://www.econbiz.de/10014346871