We construct an index of industry exposure to artificial intelligence (AI) to calibrate a macroeconomic multi-sector model. At the aggregate level, AI significantly raises output, consumption and investment in the short and long run. The inflation response depends on AI’s anticipated impact on productivity: When not anticipated, AI is initially disinflationary; when fully anticipated, inflation rises immediately. At the sectoral level, a sector’s initial AI exposure has little correlation with

Tag-uri: Inflatie