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savings and investment. Jointly with meagre productivity growth, this implies a low natural rate of interest that conditions …, artificial intelligence, automation) may increase productivity growth but at the risk of having disruptive effects on employment …
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This paper proposes a new and unified explanation for the following trends observed over the last 25 years: (1) the increased returns to education, (2) the slow measured growth in TFP in an economy undergoing massive changes in its methods of production, and (3) the poor wage performance,...
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This paper proposes to explain the productivity growth slowdown with the poaching of disruptive inventors by firms … disruptive innovations to confirm the main features of the model: Disruptions increase future research productivity, hurt …
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