General-purpose technologies (GPT) have the potential to transform how we work,
to change the skills we need and to drive productivity growth. It is therefore
important to understand the conditions that lead to the successful adoption of
GPT.
In this episode, hear from Kim Nguyen on how she, and co-author Jonathan Hambur,
used a novel database to assess the adoption of cloud computing and artificial
intelligence/machine learning. They found the COVID-19 pandemic led to a
short-lived surge in adoption of cloud computing technologies. They also found
that profitable adoption is more likely to occur in firms where the Board has
members with relevant technological backgrounds, and that firms adopting GPT are
more likely to seek staff with related skills. These findings highlight the
importance of workers’ and managers’ skills in technology adoption, and the
impact this can have on productivity growth.
Earnings call transcripts are a rich and timely source of information about
firms’ own business conditions, as well as economic and financial conditions
more broadly. The sentiment and language used during these calls provide
additional context, nuance and insights that are valuable for economists trying
to understand how firms make choices and how those choices affect prices.
In this episode, learn about the work of Callan Windsor and Max Zang to
process and analyse over 700,000 paragraphs of text extracted from around
5,500 transcripts collected since the start of 2007 using a state-of-the-art
large language model. The purpose of this was to better understand firms’ price-setting behaviour.
Data provide one window into what’s happening in the economy. To really
understand what’s going on and why, we also need to engage with the people who operate
within the economy. Enter the liaison program – a formal program of economic
intelligence gathering established in 2001. Through the program our economists meet
frequently with businesses, industry bodies, government agencies and community organisations.
This gives us a near real time read on the economy that complements published
data and economic models in informing our assessment of economic conditions.
In this episode, learn about the history of the program, why we place so much importance
on talking to the community in this way and how it has supported our
decision-making over the last two decades.
Features:
Assistant Governor (Economic) Luci Ellis, Senior Manager Kate McLoughlin and Senior
Representatives Aaron Walker (Western Australia) and Kate Davis (Queensland)
Research – it’s part of our DNA. It is an essential part of who we are and what we
do. It informs the monetary policy process, deepens our understanding of the
operation of financial markets, helps us understand the life of banknotes and more.
But more than that, the way we do research matters. Join Head of Communications Judy
Hitchen in learning more about why research is so important, the value of
collaboration and our current research priorities.
Features: Assistant Governor (Economic) Luci
Ellis, Head of Economic Research John Simon, Senior Research Manager Anthony
Brassil and Senior Analyst Nalini Agarwal
As the world inexorably moves towards a low-carbon future, there will be profound
impacts on the global economy. For the financial system, climate change is a
first-order risk.
Head of Communications Judy Hitchen talks to members of our senior team about the
work the Bank and other financial regulators are undertaking as the world moves to
net zero emissions.
Features: Deputy Governor Guy Debelle, Head of
Financial Stability Department Jonathan Kearns, Head of International Department
Alexandra Heath, Senior Manager Anna Park, Senior Analyst Kellie Bellrose and Senior
Analyst Faye Wang
What monetary policy measures have we implemented since the outbreak of COVID-19? Why
were they implemented? How have they supported the Australian economy? Head of Communications Judy Hitchen
discusses these questions with members of our senior leadership team.
Features: Deputy Governor Guy Debelle, Assistant
Governor (Economic) Luci Ellis, Assistant Governor (Financial Markets)
Christopher Kent and Head of Domestic Markets Department Marion Kohler
