Technology adoption, online education, etc.
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Daron Acemoglu of MIT and co-authors use new data on 300,000 businesses from the Census Bureau’s annual business survey over the period 2016-2018 to develop advanced technologies such as artificial intelligence, robotics, and specialized software. Companies that employ are larger and employ more workers than other companies in their industry. As a result, only 2% to 40% of U.S. companies employ advanced technology, while his 12% to 64% of U.S. employees are exposed to such technology. The authors found that the use of advanced technology was associated with an 11.4% increase in labor productivity, which could explain his 16%-30% difference in labor productivity between large and small firms in a given industry. I’m assuming. Smaller, older companies are less likely to adopt advanced technology, which may reflect the high fixed costs and organizational barriers that come with adoption. The authors also find that high technology increases the demand for skilled labor, but has a limited impact on overall employment.
Lisa Barrow of the Federal Reserve Bank of Chicago, Wesley Morris and Lauren Sartane of the University of North Carolina at Chapel Hill found that the expansion of online courses in the University of North Carolina System had a different impact on student achievement. Virtual learning gives flexibility to students who cannot participate in person due to budgets, work schedules, and childcare responsibilities, and is most used by students who are first-generation, Pell grantees, older, and female. Despite this additional flexibility, students who were more likely to take classes online had lower graduation rates and earned less credit than their in-person counterparts. Received more As’s and F’s than students taking at The authors cite the high demand for online education as evidence that it will “stick”, but for online learning to become a viable educational alternative, additional We warn you that you may need the advice and support of
Using a new survey measure of manager expectations, Nicholas Bloom of Stanford University and co-authors found that a 2 standard deviation increase in uncertainty about future sales was associated with a 6% decrease in investment. Uncertainty is also negatively correlated with employment growth and sales. The authors show that increased uncertainty is associated with greater use of rental capital, suggesting that this practice allows firms to fulfill shipments while hedging against low demand. Finally, the team compares its results to aggregate uncertainty measures in the historical literature, stating that “industry-level equity volatility provides a good proxy for uncertainty for both public and private companies. We can,” he concluded.
Chart courtesy of Federal Reserve Board Aditya Alandangady, David Cho, Laura Feiveson and Eugenio Pinto.Bureau of Economic Analysis data
“The Japanese economy is still recovering from the pandemic, and the output gap remains negative. [of Japan] The supply-demand gap is expected to turn positive in the second half of this fiscal year as the economy recovers. But so far demand-side inflation is not picking up. The current rate is over 2% due to the pass-through of cost increases accompanying the rise in import prices to consumer prices, but the impact of this pass-through is expected to wane from fiscal 2023 onwards, and it is expected to fall below 2%. Mr. Hiko says:
“Also … there is a very high degree of uncertainty in developments in the economy and prices at home and abroad, as well as developments in financial markets. Banks [of Japan] We scrutinize the outlook for economic activity and prices, as well as upside and downside risks. Implement appropriate monetary policy based on the evaluation. At this point, I think the Bank of Japan should continue monetary easing and firmly support economic activity. In doing so, it aims to provide a favorable environment for firms to raise wages and achieve the price stability target with wage increases in a sustainable and stable manner. ”
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