Paolo Fornaro

@paolofornaro.bsky.social

Researcher at Labore. Interested in nowcasting, machine learning and big data, productivity analysis. Wannabe rockstar and videogame geek.

@alexhanna.bsky.socialReposted by @paolofornaro.bsky.social

Why isn't this on every TV screen and not the fairy tale of killer robots

Ryan Stauffer@ryanswx.bsky.social

Haha, this fucking sucks.

@ilkkakiema.bsky.socialReposted by @paolofornaro.bsky.social

Valtion budjettiesityksessä esitetyn ennusteen mukaan Suomi rikkoo EDP-menettelyn (liiallisen alijäämän menettelyn) mukaisia nettomenojen rajoitteita jo ensi vuonna. Tämä vaikeuttaa tulevaa sopeutusta entisestään. Mm. tämä lausunnossamme valtiovarainvaliokunnalle: labore.fi/wp-content/u...

@ottokyyronen.bsky.socialReposted by @paolofornaro.bsky.social

STT:n toiminnan päättyminen heikentää suomalaisen uutistarjonnan moniäänisyyttä. Samalla Ylen rahoitusta leikataan ja yksityiset uutismediat edellyttävät enenevissä määrin joko käyttömaksuja tai käyttäjän dataa uutisten lukemiseksi. Kehityksen suunta on huolestuttava.

@cepr.orgReposted by @paolofornaro.bsky.social

@lucafornaro.bsky.social writes for CEPR's #Europe2050 and argues that Europe's transformation into an innovation leader depends less on structural reform alone than on getting the macroeconomic mix right. Robust productivity and strong demand can be mutually reinforcing.
ow.ly/PqH850ZQZF9

The European Union faces a choice: keep competing in low-tech sectors by compressing wages, or become a genuine technological leader through innovation. Writing for CEPR's Europe 2050 series, Luca Fornaro argues that this transformation depends less on structural reform alone than on getting the macroeconomic mix right. His starting point is the "European stagnation trap" of the 2010s, when fiscal austerity and a monetary policy constrained by the zero lower bound produced a decade of weak demand and depressed investment, business investment took ten years just to recover its pre-2008 peak, and the productivity gap with the United States widened as a result. Fornaro's central argument is that robust productivity growth and strong demand can be mutually reinforcing rather than in tension: faster productivity growth is disinflationary, which gives central banks room to support demand without stoking inflation, which in turn encourages the business investment that drives further productivity gains. He argues this "virtuous cycle" means the composition of any economic expansion matters as much as its scale, with booms driven by high-tech, tradable sectors proving far more sustainable than those driven by construction or credit expansion in non-tradables. On fiscal policy, he points to evidence that public R&D investment can be self-financing, given estimated returns of 140 to 210%, and argues that high-debt countries in particular stand to benefit from redirecting spending towards such high-return public goods rather than treating debt as a reason to retrench. His final concern is that public debt overhangs risk splitting the EU into a fiscally sound bloc that invests and grows, and a fiscally stagnant one that cannot, with capital flowing from the latter to the former and widening the divide; joint EU-level financing of public goods, he argues, is one way to guard against this two-speed outcome.
@paolofornaro.bsky.social

Maybe start by holding liable the companies running these systems for the crimes they commit (the companies, not the ai), instead of pretending that llms have some sort of conscience? Toki tämä olisi parempi tehty EU tasolla

@mikesager.netReposted by @paolofornaro.bsky.social

They built a feature without thinking about how it would work. This is just idiots testing in production on an internet connected server. The answer to stop this idiocy is to use existing laws and legal resources to go after the humans who did this. Stop assigning agency to tools.

@voxeu.orgReposted by @paolofornaro.bsky.social

US payroll records from 2016-2025 show that many workers have experienced a lasting reduction in their purchasing power. Erik Hurst & Christina Patterson argue that the lack of systematic wage indexation in the US is central to this story.
cepr.org/voxeu/column...
#EconSky