Rethinking policy transmission in the age of AI
Managing machine expectations will require analytical innovation and potentially new forms of oversight, argues Elisa Vilorio de Painter
The global economy is undergoing a profound technological transformation. Artificial intelligence is reconfiguring production structures, consumption patterns, investment behaviour, and the distribution of income and wealth. These shifts directly affect the core mandates of central banks: price stability and employment.
On the supply side, AI-driven productivity gains could dampen inflationary pressures over the medium term. Yet, in the short run, large-scale technological investment and
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