Technological progress and monetary policy : managing the fourth industrial revolution / by Stephen S. Poloz. : FB3-6/2019-11E-PDF
"This paper looks at the implications for monetary policy of the widespread adoption of artificial intelligence and machine learning, which is sometimes called the fourth industrial revolution. The paper reviews experiences from the previous three industrial revolutions, developing a template of shared characteristics: new technology displaces workers; investor hype linked to the new technology leads to financial excesses; new types of jobs are created; productivity and potential output rise; prices and inflation fall; and real debt burdens increase, which can provoke crises when asset prices crash"--Abstract.
Lien permanent pour cette publication :
publications.gc.ca/pub?id=9.882091&sl=1
| Ministère/Organisme | Bank of Canada. |
|---|---|
| Titre | Technological progress and monetary policy : managing the fourth industrial revolution / by Stephen S. Poloz. |
| Titre de la série | Bank of Canada staff discussion paper, 1914-0568 ; 2019-11 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Électronique |
| Document électronique | |
| Note(s) | "November 2019." Includes bibliographical references (pages 13-14). Includes abstract in French. |
| Information sur la publication | Ottawa : Bank of Canada, 2019. ©2019 |
| Auteur / Contributeur | Poloz, Stephen S., author. |
| Description | 1 online resource (v, 14 pages) : charts. |
| Numéro de catalogue |
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| Descripteurs | Monetary policy Artificial intelligence |