Online job postings indicate that demand from top tech firms for frontier IT skills is about double their demand for other IT skills. This could indicate increasing concentration of skills in a few firms, with other firms left behind.
Addressing employers’ and employees’ challenges.
Policymakers should act to deal with labour-market concentration trends that potentially harm workers, especially gig workers and the self-employed.
Agreement is needed at international level on mechanisms to ensure better preparedness for the next pandemic.
Laura Nurski, Sabine Theresia Köszegi and Giuseppe Porcaro explore the relationship between artificial intelligence and job transformation and ask whether the impact differs by gender.
The digital transition should be managed – and taxed – alongside other societal transitions, but any tax on companies that replace employees with automated systems should be targeted and carefully designed to not stifle innovation.
Perhaps an analysis of the causes of the declining investment rate would bring us closer to explaining why real interest rates are so low.
Under Xi Jinping's new economic agenda 'common prosperity', China is cracking down on indebted real estate developers like Evergrande.
Between 2007 and 2020, the balance sheets of the European Central Bank, the Bank of Japan, and the Fed have all increased about sevenfold. But inflation stayed low throughout the 2010s. This was possible due to decreasing money velocity and the money multiplier. However, a continuation of asset purchasing programs by central banks involves the risk of higher inflation and fiscal dominance.
The pandemic has certainly permanently affected our way of working. Whether this is for the better remains to be seen.
The pandemic has shown workers and employers that another way to work is possible. The European Union should develop a framework to facilitate hybrid work.
More remote working in the wake of the pandemic could exacerbate wage inequality, with young workers, women and the low educated potentially losing out.