Spence, Michael, (2016), “How to Fight Secular Stagnation”, Project Syndicate, 31 Αugust
Much of the world, especially the advanced economies, has been mired in a pattern of slow and declining GDP growth in recent years, causing many to wonder whether this is becoming a semi-permanent condition – so-called “secular stagnation.” The answer is probably yes, but the question lacks precision, and thus has limited utility. There are, after all, different types of forces that could be suppressing growth, not all of which are beyond our control.
Relevant Posts
- Eggertsson, Gauti B, Summers, Lawrence H., (2016), “Secular stagnation in the open economies: How it spreads, how it can be cured”, Voxeu, 22 July
- Pichelmann, Karl, (2015), “When ‘Secular Stagnation’ meets Piketty’s capitalism in the 21st century. Growth and inequality trends in Europe reconsidered”, European Commission publications, Economic Papers 551, Ιούνιος 2015