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An economy under the digital transformation

Filippo Bertani, Linda Ponta, Marco Raberto, Andrea Teglio and Silvano Cincotti

MPRA Paper from University Library of Munich, Germany

Abstract: During the last twenty years, we have witnessed the deep development of digital technologies. Artificial intelligence, software and algorithms have started to impact more and more frequently in our daily lives and most people didn't notice it. Recently, economists seem to have perceived that this new technological wave could have some consequences, but which one are they? Will they be positive or negative? In this paper we try to give a possible answer to these questions through an agent based computational approach; more specifically we enriched the large-scale macroeconomics model EURACE with the concept of digital technologies in order to investigate the effect that their business dynamics have at a macroeconomic level. Our preliminary results show that this productivity increase could be a double-edged sword: notwithstanding the development of the digital technologies sector can create new job opportunities, at the same time, these products could jeopardize the employment inside the traditional mass-production system.

Keywords: Intangible assets; Industry 4.0; Digital revolution; Agent-based macroeconomics (search for similar items in EconPapers)
JEL-codes: C63 O33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-big, nep-cmp, nep-ict and nep-pay
Date: 2019-05-30
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