- 14 Brynjolfsson, Erik, Daniel Rock, and Chad Syverson (2019). “Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics,” in Ajay K. Agrawal, Joshua Gans, and Avi Goldfarb, eds., The Economics of Artificial Intelligence: An Agenda. Chicago: University of Chicago Press, pp. 23–57; an earlier version is available at https://www.nber.org/papers/w24001.pdf. Bullard, James (2018).
In particular, the expectation and eventual beginning of the tapering of asset purchases by the U.S. Federal Reserve sharpened global risk aversion. Since May of last year, portfolio capital inflows to emerging economies, previously the darling destination for foreign funds, have contracted and in some countries, even become outflows.