Preliminary pilots and the control treatments were used to obtain the effort distribution in the first task, from which random robots were sampled in the rest of the treatments as we discuss in the following. The replacement of robots by workers is done in two different forms, giving rise to ...
aThe mission of the World Bank Group is closely aligned with development priorities associated with the nexus of issues surrounding growth, poverty, and inequality. Over the past two decades, we have provided about 8 billion Dollars to support about 100 projects in China's western provinces. The...
Income inequalityLong-run economic growthSkill premiumWe explain the simultaneous presence of i) increasing per capita output, ii) declining real wages of low-skilled workers, and iii) a rising wage premium of higher education within a model of economic growth in the age of automation. The ...
Job Displacement:One of the main concerns regarding robots is their potential to replace human workers in various industries. As robots become more advanced and capable of performing complex tasks, there is a risk of job displacement and unemployment. This can lead to economic inequality...
Nordhaus (2007) has gathered historical information on the growth of computing power. His estimates are based on real data, and do not incorporate hypothetical developments or suffer from the excesses of optimism so often found in the AI literature. He estimates that in the twentieth century, ...
According to the latest study, the current wave of "robotization" is likely ultimately to boost productivity and economic growth, generating roughly as many new jobs as it destroys. At the high end of the forecast, the researchers see a $5 trillion "robotics dividend" for the global e...
In an aggressive scenario which presumes a faster spread of robots in the manufacturing sector, Acemoglu estimates that industrial robots will lead to a 0.94 to 1.76 percentage points lower employment to population ratio and 1.3 percent to 2.6 percent lower wage growth between 2015 and 2025. ...
The recent literature on the economic effects of machine learning, robotization and artificial intelligence suggests that there may be an upcoming wave of substitution of human labor by machines. We argue that these new technologies may lead to so-called perpetual growth, i.e. growth of per ...
Robots, firm relocation, and air pollution: unveiling the unintended spatial spillover effects of emerging technology 27 May 2024 Introduction Since the reform and opening up, China’s rapid economic growth has created a world-renowned “economic growth miracle”1. With the rapid economic growth, ...
According to anew report from the World Economic Forum, machines and algorithms in the workplace are expected to create 133 million new roles, but cause 75 million jobs to be displaced by 2022. If you’ve done your math, you’ve calculated the growth of artificial intelligence could create ...