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Secular stagnation and the future of economic stabilisation

Ines Goncalves Raposo, (2019), » Secular stagnation and the future of economic stabilisation», Bruegel, 1 Απριλίου

Larry Summers’ and Łukasz Rachel’s most recent study documents a secular fall in neutral real rates in advanced economies. According to the authors, this fall would be even more marked in the absence of offsetting fiscal policies. Policymaking in a world of permanently low interest rates may be hard to navigate, especially in troubled waters. We review economists’ views on the matter

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