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Monetary policy in an AI-driven two speed economy / Joshua Brault, Maryam Haghighi, Jing Yang.: FB3-5/2026-27E-PDF

"We study the monetary policy response to AI adoption in a two-sector New Keynesian model with a task-based microfoundation, sticky prices, and downward nominal wage rigidity. We distinguish between two forms of AI-driven technological change: augmentation, which raises the productivity of labor within existing tasks, and automation, which displaces labor by reallocating tasks from workers to machines, contracting the set of tasks requiring human input"--Abstract, page 1.

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.965210&sl=0

Publication information
Department/Agency
  • Bank of Canada, issuing body.
TitleMonetary policy in an AI-driven two speed economy / Joshua Brault, Maryam Haghighi, Jing Yang.
Series title
  • Staff working paper = Document de travail du personnel, 1701-9397 ; 2026-27
Publication typeMonograph - View Master Record
Language[English]
FormatDigital text
Electronic document
Note(s)
  • Title from cover.
  • Includes bibliographical references (pages 23-24).
Publishing information
  • [Ottawa] : Bank of Canada = Banque du Canada, July 24, 2026.
  • ©2026
Author / Contributor
  • Brault, Joshua, author.
Description1 online resource (26 pages) : graphs.
Catalogue number
  • FB3-5/2026-27E-PDF
Subject terms
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