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Macroeconomic Policies for Productivity Growth

CORDIS · observation · Publication date unknown

Macroeconomic Policies for Productivity Growth Rapid advances in artificial intelligence and renewable energy technologies may boost productivity growth over the coming years, but also cause a disruptive reallocation of economic activity among workers, firms, sectors and countries. How should monetary and fiscal policies be designed to ensure that these new technologies deliver productivity improvements and widespread welfare gains? In this proposal, I will address this fundamental question by developing a Keynesian growth framework – i.e. a unified theory of business cycles and growth – in which macroeconomic policies traditionally associated with aggregate demand management, such as monetary and cyclical fiscal policies, affect firms’ investment in new technologies and productivity. In part I, I will develop a novel Keynesian growth model with multiple alternative technologies (e.g. human labor vs. artificial intelligence, dirty vs. clean energy)

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recordType

award

status

SIGNED

region

EU

value

1457750

unit

EUR