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Full-Text Articles in Social and Behavioral Sciences
The Effect Of Artificial Intelligence Implementation On Total Factor Productivity, Matthew Toy
The Effect Of Artificial Intelligence Implementation On Total Factor Productivity, Matthew Toy
Honors Theses
Investment in and availability of artificial intelligence has become a central concern for most developed economies because of is expected positive impact on an economy. Unlike other forms of capital investment, investment in AI may lead to innovative products and processes that should increase productivity. However, AI’s overall effect on productivity remains largely unknown. Adopting AI replaces labor with capital, which will have a positive effect on labor productivity, but overall productivity may remain the same or even decrease. I look at the impact of AI implementation on Total Factor Productivity (TFP) in order to assess its effect on the …
The Predictive Power Of The Term Structure Under Unconventional Monetary Policies, Luying Yang
The Predictive Power Of The Term Structure Under Unconventional Monetary Policies, Luying Yang
Honors Theses
Previous research has confirmed a positive relationship between the slope of the yield spread and future economic growth. Since the start of the Great Recession, a number of developed economies have hit the zero lower bound and adopted unconventional monetary policies such as large-scale bond/asset purchase programs and negative interest rate policies. This paper finds that the yield spread’s predictive power generally deteriorates after the central bank adopts its first bond purchase program. However, there is no general pattern of how these unconventional monetary policies impact the yield spread’s forecasting ability across countries.