In "The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment," Acemoglu … impact of AI on jobs, inequality, wages, labor productivity and long-run GDP growth are explored. …

demand and slow down GDP growth, even in the face of the positive technology shock that AI entails. If the elasticity of … substitution is low, then GDP, productivity and wage growth may however still slow down, because the economy will then fail to …, productivity, and GDP. …

demand and slow down GDP growth, even in the face of the positive technology shock that AI entails. If the elasticity of … substitution is low, then GDP, productivity and wage growth may however still slow down, because the economy will then fail to …, productivity, and GDP. …

inequality, and higher productivity growth through automation. In this paper we critically re-assess these predictions by (i … aggregate demand. A second is that the predictions of AI causing massive job losses and faster growth in productivity and GDP … growth and productivity is stagnating and inequality is rising. Our paper provides a theoretical explanation of this in the …

(2):155–162, 1950) over wages and productivity gains, taking into account the trade-offs faced by firms in choosing factor- augmenting …, productivity gains, savings, and investment, is described by a two-dimensional dynamical system in the employment rate and output …, which also have a positive long-run impact on labor productivity growth but a negative long-run impact on employment. In …

function (IPF) and propose three models relating innovation, AI and population: AI as a research-augmenting technology; AI as … researcher scale enhancing technology; and AI as a facilitator of innovation. We show, performing model simulations calibrated on …