Question

The research article is based on a single equation from the Romer model. Which one?

At=A0(1+g)

g=zLa

yt=(1-l)At

La=lL

What is the main thesis of the article?

In the last few years, researchers have become better trained (La) thanks to artificial intelligence.

In the last few decades, research productivity has declined (z) but g has remained fairly stable because of an increase in research effort (La). Research effort can be measured in number of scientists or in R&D spending.

In the last few decades the amount of R&D done by companies (z) has skyrocketted.

Moore's law is beginning to fail.

According to the authors, what sectors of the economy show declining research productivity?

They find evidence in agriculture and medicine only.

They find evidence only in agriculture.

They find evidence only in computer science.

They find evidence across many sectors, including computers, agriculture and medicine.

Answer 1

Don't forget the following version to the version discussed in bankruptcy 8.Three of the ebook:

Y=A^{​​​​​​1/2(1- γ_{​​​​​​A})L}

^{A=(1/µ)γ_{​​​​​​A}​​​L}

There's simply one difference – we’ve modified the exponent on A inside the production of the

Output true in order that there may be now a diminishing marginal product to thoughts in that zone.

A) offer an economic interpretation for each equation (one or two sentences for every)

Output increases with technological progress, but at a lowering price. Output

Additionally will increase with the quantity of human beings running in production.

Technological development rises with the number of humans working in studies.

B) what's the growth rate of know-how in this economic system? What's the increase fee of

Output in line with person on this economy?

The increase fee of understanding is really the second one equation above. As long as a few

Human beings are working in studies, know-how grows at a fantastic price forever.

However, due to the fact this information well-knownshows diminishing returns in manufacturing, the

Longer term boom price of output according to character on this economy could be 0