España lleva años con un "bajo" crecimiento de la productividad, un concepto tan complejo como relevante: "Es la que sostiene el aumento de la renta per cápita". Lo explica Juan Francisco Jimeno Serra...

El Real Decreto-ley (RDL) 2/2023 modificó el diseño original del mal llamado Mecanismo de Equidad Intergeneracional (MEI), entre otras cosas, para introducir una cláusula de salvaguarda que, en última...

Por Lidia Cruces El envejecimiento demográfico está poniendo a prueba la sostenibilidad de los sistemas de pensiones en muchos países, y España no es la excepción. Con una natalidad cada vez más baja...

The diffusion of AI-enabled technologies is transforming labour markets. This column examines the link between the diffusion of these technologies and changes in the female employment share in 16 European countries from 2011 to 2019. Average female employment shares increased over the period in occupations more exposed to AI. Countries with high initial female labour force participation and higher initial educational attainments of women relative to men show a stronger positive association.

Despite digitalisation in the 21st century, productivity growth rates in advanced economies seemed to stagnate in the 2010s. One hypothesis to explain this phenomenon is the ‘productivity J-curve’, which suggests that the high costs associated with digitalisation during an investment boom induce an underestimation of productivity growth. This column tests the hypothesis using data from five advanced economies. It finds evidence that conventional total factor productivity growth rates in advanced economies were negatively biased in the 2010s, particularly in the US. These results have important implications regarding government investment support policies.

EU countries are increasingly turning to industrial policy to boost growth and productivity, while accelerating the green transition, in an environment of limited fiscal space. This column uses a multi-country general equilibrium model to compare the effects of unilateral industrial policies by individual countries to coordinated policies at the EU level. It argues that deeper coordination of industrial policy initiatives at the EU level is essential to achieving successful outcomes, mitigating inefficient relocation of resources and fragmentation risks within the Single Market.

El jurado les reconoce como “arquitectos centrales del paradigma neokeynesiano” por haber integrado “la competencia monopolística y las rigideces nominales y reales en modelos dinámicos de equilibrio ...

The BBVA Foundation Frontiers of Knowledge Awards in Economics, Finance and Management has gone in this seventeenth edition to Olivier Blanchard (Paris School of Economics and MIT), Jordi Galí (CREI a...

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

As generative pre-trained transformer (GPT) and other large language models become more prevalent, their capabilities beyond language processing will be tested. This column examines GPT’s economic rationality through budgetary decisions in risk, time, sociability, and food preferences. GPT outperforms human subjects in rationality scores, while its preference parameters differ slightly from humans and show less heterogeneity. Rationality scores remain robust to randomness and demographics but are sensitive to contextual framing. These findings highlight GPT’s decision-making potential and the need for further investigation of its limitations.

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Por Miguel Artola y Francisco Melis Vivimos una era de múltiples retos para los países más desarrollados. Desde 2020 se han producido fuertes cambios en las condiciones económicas como atestigua el i...

Population ageing is exerting unprecedented fiscal pressure on social security systems around the world. In response, many governments are implementing or planning pension reforms, often aimed at encouraging later retirement. Recent years have seen a surge in empirical research on retirement behavior and the impact of pension reforms. This column presents a new eBook that reviews insights from the newest advances in research on retirement policy and provides fresh perspectives on how to (re)think pension reforms.

Una estudio del centro de análisis Afi señala una importante transmisión de viviendas de padres a hijos en las próximas décadas, sobre todo entre las familias más ricas, lo que va a aumentar la desigu...