and thereafter Japan has been suffering secular stagnation. This paper proposes a dynamic macroeconomic model that can … approaches zero even if productivity keeps on increasing, and secular stagnation arises. …

country into stagnation. We also find that immigrants' remittances are harmful to the host country under full employment but … beneficial under secular stagnation. …

I present a model of secular stagnation with land and infinitely-lived agents with wealth preferences. Land is the … unless the central bank follows a deflationary policy. In contrast, secular stagnation emerges as the unique equilibrium of … effective in restoring full employment as stagnation is a real phenomenon. These conclusions hold if households require a risk …

is persistent demand shortage. We show that, under some conditions, a secular stagnation steady state exists in which the … addition to the job creation channel of the standard matching model. Turning to the stagnation equilibrium, the effects of … employment gap under stagnation are primarily driven by uctuations in underemployment instead of structural unemployment. Our …