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Acemoglu, Daron - 2018

We argue theoretically and document empirically that aging leads to greater (industrial) automation, and in particular … older to middle-aged workers—is associated with greater adoption of robots and other automation technologies across … development of automation technologies in countries undergoing greater demographic change. Our directed technological change model …

Persistent link: https://www.econbiz.de/10012924461

Artificial Intelligence, Automation and Work

Acemoglu, Daron - 2018

We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and … employment. Our task-based framework emphasizes the displacement effect that automation creates as machines and AI replace labor … counteracted by a productivity effect, resulting from the cost savings generated by automation, which increase the demand for labor …

Persistent link: https://www.econbiz.de/10012930347

Polanyi's Paradox and the Shape of Employment Growth

Autor, David H. - 2014

In 1966, the philosopher Michael Polanyi observed, "We can know more than we can tell... The skill of a driver cannot be replaced by a thorough schooling in the theory of the motorcar; the knowledge I have of my own body differs altogether from the knowledge of its physiology." Polanyi's...

Persistent link: https://www.econbiz.de/10013047399

Occupational Classifications : A Machine Learning Approach

Ikudo, Akina - 2018

Characterizing the work that people do on their jobs is a longstanding and core issue in labor economics. Traditionally, classification has been done manually. If it were possible to combine new computational tools and administrative wage records to generate an automated crosswalk between job...

Persistent link: https://www.econbiz.de/10012911708

Machine Learning for Regularized Survey Forecast Combination : Partially-Egalitarian Lasso and its Derivatives

Diebold, Francis X. - 2018

Despite the clear success of forecast combination in many economic environments, several important issues remain incompletely resolved. The issues relate to selection of the set of forecasts to combine, and whether some form of additional regularization (e.g., shrinkage) is desirable. Against...

Persistent link: https://www.econbiz.de/10012911728

Does Machine Translation Affect International Trade? Evidence from a Large Digital Platform

Brynjolfsson, Erik - 2018

Artificial intelligence (AI) is surpassing human performance in a growing number of domains. However, there is limited evidence of its economic effects. Using data from a digital platform, we study a key application of AI: machine translation. We find that the introduction of a machine...

Persistent link: https://www.econbiz.de/10012912525

Changes in Household Diet : Determinants and Predictability

Hut, Stefan - 2018

We use grocery purchase data to analyze dietary changes. We show that households – including those with more income or education - do not improve diet in response to disease diagnosis or changes in household circumstances. We then identify households who show large improvements in diet...

Persistent link: https://www.econbiz.de/10012912547

Artificial Intelligence, Economics, and Industrial Organization

Varian, Hal R. - 2018

Machine learning (ML) and artificial intelligence (AI) have been around for many years. However, in the last 5 years, remarkable progress has been made using multilayered neural networks in diverse areas such as image recognition, speech recognition, and machine translation. AI is a general...

Persistent link: https://www.econbiz.de/10012914272

Some Facts of High-Tech Patenting

Webb, Michael - 2018

Patenting in software, cloud computing, and artificial intelligence has grown rapidly in recent years. Such patents are acquired primarily by large US technology firms such as IBM, Microsoft, Google, and HP, as well as by Japanese multinationals such as Sony, Canon, and Fujitsu. Chinese...

Persistent link: https://www.econbiz.de/10012914742

Economic Policy for Artificial Intelligence

Agrawal, Ajay - 2018

Recent progress in artificial intelligence (AI) – a general purpose technology affecting many industries - has been focused on advances in machine learning, which we recast as a quality-adjusted drop in the price of prediction. How will this sharp drop in price impact society? Policy will...

Persistent link: https://www.econbiz.de/10012916896