Modelling Artificial Intelligence in Economics

Arbeitspapier

Economists' two main theoretical approaches to understanding Artificial Intelligence (AI) impacts have been the task-approach to labor markets and endogenous growth theory. Therefore, the recent integration of the task-approach into an endogenous growth model by Acemoglu and Restrepo (AR) is a useful advance. However, it is subject to the shortcoming that it does not explicitly model AI and its technological feasibility. The AR model focuses on tasks and skills but not on abilities, while abilities better characterize AI services' nature. This paper addresses this shortcoming by elaborating the task-approach with AI abilities for use within endogenous growth models. This more ability-sensitive specification of the task-approach allows for more nuanced and realistic impacts of progress in artificial intelligence (AI) on the economy to be captured.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Discussion Papers ; No. 14171

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence ; Technological Change: Choices and Consequences; Diffusion Processes ; Human Capital; Skills; Occupational Choice; Labor Productivity ; Macroeconomics: Consumption; Saving; Wealth ; Aggregate Factor Income Distribution
• Thema: Artificial Intelligence ; endogenous growth theory ; labor economics ; mathematical models

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Gries, Thomas ; Naudé, Wim
• Ereignis: Veröffentlichung
• (wer): Institute of Labor Economics (IZA)
• (wo): Bonn
• (wann): 2021

Weitere Informationen

• Handle: http://hdl.handle.net/10419/232923
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ