The economics of Artificial Intelligence

an agenda

Advances in artificial intelligence (AI) highlight the potential of this technology to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. It covers four broad themes: AI as a general ...

The economics of food price volatility

There has been an increase in food price instability in recent years, with varied consequences for farmers, market participants, and consumers. Before policy makers can design schemes to reduce food price uncertainty or ameliorate its effects, they must first understand the factors that have contributed ...

Fiscal policy after the financial crisis

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power ...

The great inflation

the rebirth of modern Central Banking

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources. This volume focuses on understanding the causes of the Great Inflation ...

Social security programs and retirement around the world

historical trends in mortality and health, employment, and disability insurance participation and reforms

In nearly every industrialized country, large aging populations and increased life expectancy have placed pressure on social security programs - and, until recently, the pressure has been compounded by a trend toward retirement at an earlier age. As such, social security in many countries may soon ...

Regulation vs. Litigation

perspectives from economics and Law

The efficacy of various political institutions is the subject of intense debate between proponents of broad legislative standards enforced through litigation and those who prefer regulation by administrative agencies. This book explores the trade-offs between litigation and regulation, the circumstances in which one approach may ...

Understanding long-run economic growth

geography, institutions, and the knowledge economy

The conditions for sustainable growth and development are among the most debated topics in economics, and the consensus is that institutions matter greatly in explaining why some economies are more successful than others over time. "Understanding Long-Run Economic Growth" explores the relationship between economic conditions ...

Economic and financial crises in emerging market economies

In the late 1990s, economic and financial crises raged through East Asia, devastating economies that had previously been considered among the strongest in the developing world. The crises eventually spread to Russia, Turkey, and Latin America, and impacted the economies of many industrialized nations as ...