We at Planet Money are constantly reading the work of economists and other social scientists to glean ideas, evidence and insights about the economy, and, more generally, the confusing world around us.
are constantly reading the work of economists and other social scientists to glean ideas, evidence and insights about the economy, and, more generally, the confusing world around us. Often this work provides the seeds for episodes or newsletters. But sometimes they're just interesting things we learned privately, and we don't do much with them.Econ Roundup! Here are five recent papers that lit up our brains and are maybe worth taking a look at.
One of their most interesting findings is that the least disruptive period was rather recently."The years spanning 1990 to 2017 were the most stable period in the history of the US labor market, going back nearly 150 years." That's maybe surprising because that was an era when we saw the spread of the personal computer, the rise of the Internet, and the advent of the smartphone.
Finally, they find that"retail sales employment has declined by 25 percent in the last decade, likely because of technological improvements in online retail." They hypothesize that maybe this has to do with the advent of artificial intelligence."While large language models like ChatGPT are too new for us yet to see any direct impact on the labor market, companies have been using predictive AI to optimize business operations since at least the mid-2010s.
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