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The impact of artificial intelligence on economic growth and welfare
Journal of Macroeconomics ( IF 1.3 ) Pub Date : 2021-06-20 , DOI: 10.1016/j.jmacro.2021.103342
Chia-Hui Lu

Focusing on the self-accumulation ability and the nonrival characteristic of artificial intelligence (AI), this paper develops a three-sector endogenous growth model and investigates the impact of the development of AI along the transitional dynamics path and the balanced growth path. The development of AI can increase economic growth along the transitional dynamics path, and can increase household short-run utility if an increase in the accumulation of AI is due to the rising productivity in the goods or AI sector, but can be detrimental to household short-run utility if an increase in the accumulation of AI is because firms use more AI to replace human labor. In addition, the development of AI is not necessarily beneficial to household welfare in the long run. The main results are unaffected when considering the case where AI can improve the accumulation of human capital, the traditional research and development model, and different kinds of physical capital.



中文翻译:

人工智能对经济增长和福利的影响

本文围绕人工智能(AI)的自我积累能力和非竞争性特征,构建三部门内生增长模型,研究人工智能沿着转型动力路径和平衡增长路径发展的影响。人工智能的发展可以沿着转型动力路径促进经济增长,如果人工智能积累的增加是由于商品或人工智能部门生产力的提高,则可以增加家庭短期效用,但可能不利于家庭短期效用- 如果 AI 积累的增加是因为公司使用更多的 AI 来代替人工,则运行效用。此外,从长远来看,人工智能的发展不一定有利于家庭福利。

更新日期:2021-06-22
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