Chad Syverson on the Causes and Effects of a Productivity Boom
About this episode
Chad Syverson discusses the implications of AI and productivity on the economy and the challenges of measuring productivity in real-time.
AI optimism is fueling expectations for a sustained post-pandemic productivity surge that supports robust economic growth and permits easier Fed policy. However, history suggests full technological implementation can take decades and some industries could still struggle to become more productive. As policymakers consider the impacts of profound technological change, they’ll have to confront difficulties measuring productivity in real-time. In this episode, we talk with Chad Syverson, Professor of Economics at the University of Chicago, about the sectors seemingly immune to productivity growth, how quickly innovations can increase productivity, and AI’s potential impacts on inflation and interest rates.
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