00000cam 2200000zi 4500 9.965210 CaOODSP 20260814140738 m o d f cr cn||||||||| 260814e20260724oncd ob f000 0 eng d CaOODSP eng rda CaOODSP FB3-5/2026-27E-PDF Brault, Joshua, author. Monetary policy in an AI-driven two speed economy / Joshua Brault, Maryam Haghighi, Jing Yang. [Ottawa] : Bank of Canada = Banque du Canada, July 24, 2026. ©2026 1 online resource (26 pages) : graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2026-27 Title from cover. Includes bibliographical references (pages 23-24). "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. Artificial intelligence Financial applications. Monetary policy Econometric models. Keynesian economics. Intelligence artificielle Applications financières. Politique monétaire Modèles économétriques. Keynésianisme. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 1701-9397 ; 2026-27. (CaOODSP)9.806221 PDF 1.94 MB https://publications.gc.ca/collections/collection_2026/banque-bank-canada/FB3-5-2026-27-eng.pdf