Andrea Borsato

• Doctor Europaeus in Economics
• Postdoctoral researcher at University of Bergamo

This paper contributes to the understanding of the relationship between the nature of data and the Artificial Intelligence (AI) technological trajectories. We develop an agent-based model in which firms are data producers that compete on the markets for data and AI. The model is enriched by a public sector that fuels the purchase of data and trains...

This paper deals with the Secular Stagnation in productivity growth that marks the US economy since the end of the Golden Age. I contribute to the understanding of this phenomenon proposing a theoretical and empirical analysis. On the theoretical side, I develop an agent-based, stock-flow consistent model to investigate the deep relationship betwee...

Abstract: This paper contributes to the literature around the Kaldor-Verdoorn law and analyses the impact of robotisation on the channels through which the law shapes labour-productivity growth. We start with a simple evolutionary reinterpretation of the law that combines Kaldorian and neo-Schumpeterian arguments. We then apply a GMM estimator to a...

This paper offers a contribution to the literature on science policies and on the possible trade-off that might arise between broad spectrum science-technology policies and mission-oriented programs. We develop a multi-country, multi-sectoral agent-based model of economic dynamics with endogenous structural change that represents a small-scale mone...

We provide a contribution to the understanding of the emergence of biotechnology as the result of a co-evolutionary process that required simultaneous innovations in four core domains: law, government policy, molecular biology, and finance. The result of these institutional changes had profound implications in terms of division of labour and divisi...

We develop an evolutionary model to analyse the role of policymaker's preferences about the amount and the direction of funding in determining the trajectories of universities. We draw a parallel between the research and the teaching environments , and the Schumpeter Mark I and Schumpeter Mark II innovative patterns, respectively. We obtain that sh...

Contributing to the fast-growing Economics of Artificial Intelligence (AI), this paper examines the close relationship between university and industry for what concerns to the research and development of AI technologies in the USA. Recalling the history of the university-industry relationships in the several phases of the US national system of inno...

This paper contributes to the understanding of the relationship between the nature of data and the artificial intelligence (AI) technological trajectories, on the one hand, and on the dynamic processes triggered by demand during the evolution of an industry, on the other hand. We develop an agent-based model in which firms are data producers that c...

This paper contributes to the literature around the Kaldor–Verdoorn law and analyses the impact of robotisation on the channels through which the law shapes labour-productivity growth. We start with a simple evolutionary reinterpretation of the law that combines Kaldorian and neo-Schumpeterian arguments. We then apply a GMM estimator to a panel of...

This paper focusses on Secular Stagnation in the United States. It answers to two research questions. First: is Secular Stagnation a fact? Second: conditional to the previous reply, how does the literature meet the qualitative and quantitative evidence? I focus on historical annual data related to the USA from 1870 onwards. The contribution to the...

Si Nicholas Kaldor n’est pas un théoricien de l’innovation à proprement parler, ses travaux sur la croissance économique n’en sont pas pour autant moins notables pour l’étude de l’innovation, tant au niveau théorique que méthodologique. Ainsi, Kaldor est l’un des premiers à laisser une place croissante aux faits, à l’histoire et à une démarche indu...

The main purpose of this article is to show how simple matching protocols suitable for agent-based models can be developed from scratch. Keeping the feature of the underlying economy at minimum, I develop, detail, and present the code for three matching processes. Their small size and flexibility may act as a stimulus to non-expert students to unde...

The dissertation is about Secular Stagnation in the United States and consists of three papers. The concept of Secular Stagnation was introduced with the pioneering work by Alvin Hansen (1939) to describe the somber situation in which the US economy fell after the Great Recession in 1929. The author looked at the high unemployment as the principal...

The paper adds to the debate around Secular Stagnation in four ways. First, considering US historical data since 1870, the use of the term "Secular Stagnation" in the literature is misleading, since it should concern more long runs. Second, the slow growth in real GDP per capita experienced in more recent times represents a return to what US experi...

Abstract: The paper extends the research started with Borsato (2020). I develop an agent-based, stock-flow consistent growth model to analyze the interplay between income distribution, innovation and productivity growth. Results still show that the mounting shrinkage of the labour share impacts negatively upon firm's innovative effort. Additionally...

Abstract: The paper fills a gap in the Secular Stagnation literature and develops an agent-based SFC model to analyse the deep relationship between income distribution and productivity through the channel of innovation. With a steady gaze on US macroeconomic data since 1950, we put forth the idea that the continuous shift of income from wages to pr...