The Unassuming Economist

From Minneapolis Fed:

“In 2024, 24 papers were added to the Institute Working Papers series, bringing the total in the series to 108. These papers make use of frontier methods to conduct empirical analysis and build models of economic processes. Institute economists were authors on eight of the new papers in 2024. Two of these papers analyze novel datasets that the authors created and made public. Two others look at the early impact of new labor policies: a guaranteed basic income program and a prohibition on domestic outsourcing.

This summary article provides a brief overview of the main findings of all 24 new additions from 2024.

Labor markets

Artificial intelligence dominated headlines in 2024, offering opportunities and provoking concerns. For workers, one concern is how wages and employment will respond to the current wave of technological innovation. In “New Technologies and Jobs in Europe,” Stefania Albanesi, António Dias da Silva, Juan F. Jimeno, Ana Lamo, and Alena Wabitsch investigate the impact of AI on relative employment and wages by occupation in 16 European countries over the period 2011 to 2019. Their results suggest that the adoption of AI has not been associated with lower aggregate employment in Europe.”

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