Patrick McKelvey - Latest

• Measuring the AI Economy

  Staff working paper 2026-20 Anton Korinek, Patrick McKelvey

  We construct a macroeconomic estimate of total AI production in the United States, combining inference and R&D/training activities with quality adjustments to account for algorithmic progress. We then develop a nascent framework for "AI GDP" that tracks the AI economy as a coherent whole, complementing traditional national accounts.

  Content Type(s): Staff research, Staff working papers JEL Code(s): C, C4, C43, E, E0, E01, E2, E22, E3, E31, O, O3, O33, O4, O47 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting, Structural challenges, Digitalization and productivity

• ​​Canada’s shifting position in global maritime trade​

  

  Sparks at Bank article Geoffrey R. Dunbar, Patrick McKelvey, Tessa Peer, Walter Steingress, Ben Tomlin

  Canada’s economic prosperity depends on trade. But global maritime shipping networks have been reshaped in ways that have reduced Canada’s relative connectivity and carrying capacity. This less-central role for the country could mean greater exposure to supply chain disruptions that could increase the cost of doing business.

  Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, International trade, finance and competitiveness