Related papers: Cognitive Aging and Labor Share
This article develops the concept of the agentic economy and diagnoses its measurable preconditions: a transition in which economic action is increasingly distributed among humans, AI agents, industrial robots, executable protocols, compute…
Understanding the microeconomic details of technological catch-up processes offers great potential for informing both innovation economics and development policy. We study the economic transition of the PR China from an agrarian country to…
We model a dynamic data economy with fully endogenous growth where agents generate data from consumption and share them with innovation and production firms. Different from other productive factors such as labor or capital, data are…
The recent wave of AI and automation has been argued to differ from previous General Purpose Technologies (GPTs), in that it may lead to rapid change in occupations' underlying task requirements and persistent technological unemployment. In…
We study the effects of introducing information inefficiency in a model for a random linear economy with a representative consumer. This is done by considering statistical, instead of classical, economic general equilibria. Employing two…
Uncovering the structure of socioeconomic systems and timely estimation of socioeconomic status are significant for economic development. The understanding of socioeconomic processes provides foundations to quantify global economic…
Despite widespread speculation about artificial intelligence's impact on the future of work, we lack systematic empirical evidence about how these systems are actually being used for different tasks. Here, we present a novel framework for…
We construct a theoretical model for equilibrium distribution of workers across sectors with different labor productivity, assuming that a sector can accommodate a limited number of workers which depends only on its productivity. A general…
Recently, a number of statistical problems have found an unexpected solution by inspecting them through a "modal point of view". These include classical tasks such as clustering or regression. This has led to a renewed interest in…
Does technological change destroy or create jobs? New technologies may replace human workers, but can simultaneously create jobs if workers are needed to use these technologies or if new economic activities emerge. Furthermore,…
In recent years, it has been debated whether a reduction in working hours would be a viable solution to tackle the unemployment caused by technological change. The improvement of existing production technology is gradually being seen to…
We introduce the logistic model of consumption growth, which captures a negative feedback loop preventing an unlimited growth of consumption due to finite biophysical resources of our planet. This simple dynamic model allows for derivation…
Japan's population is shrinking, the share of working-age people is falling, and the number of elderly is growing fast. These trends squeeze public finances from both sides--fewer people paying taxes and more people drawing on pensions and…
This paper presents a dynamic model to study the impact on the economic outcomes in different societies during the Malthusian Era of individualism (time spent working alone) and collectivism (complementary time spent working with others).…
Historical studies of labor markets frequently lack data on individual income. The occupational income score (OCCSCORE) is often used as an alternative measure of labor market outcomes. We consider the consequences of using OCCSCORE when…
We build on the empirical finding that a human being's mental age is normally distributed around the chronological age. This opposes the frequent societal assumption "mental = chronological" which is known to be false in general but…
The emergence of the modern gig economy introduces a new set of employment considerations for firms and laborers that include various trade-offs. With a game-theoretical approach, we examine the influences of technology, policy and markets…
Working memory, or the ability to hold and manipulate information in the mind, is a critical component of human intelligence and executive functioning. It is correlated with performance on various cognitive tasks, including measures of…
We use generative AI to extract managerial expectations about their economic outlook from 120,000+ corporate conference call transcripts. The resulting AI Economy Score predicts GDP growth, production, and employment up to 10 quarters…
Researchers today have found out the importance of Artificial Intelligence, and Machine Learning in our daily lives, as well as they can be used to improve the quality of our lives as well as the cities and nations alike. An example of this…