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Corporate investment is the most important factor to explain the long stagnation of Japan during the 1990's. Using the …
Persistent link: https://www.econbiz.de/10012471433
will remain - highly prone to secular stagnation. But for extraordinary fiscal policies, real interest rates would have …
Persistent link: https://www.econbiz.de/10012480142
Great Financial Crisis decade. Indeed, during the "secular stagnation regime" of 2008-2015 that prevailed in a number of … countries, aging had a negative impact on living standards, consistent with the secular stagnation hypothesis …
Persistent link: https://www.econbiz.de/10012480557
stagnation. We examine a panel of 241 "stagnation episodes" from 146 countries, 54 % of these episodes are followed by takeoffs …. Countries that experience takeoffs average 2.3% annual growth following their stagnation episodes, while those that do not …
Persistent link: https://www.econbiz.de/10012465570
In 1991, the Japanese economy ended a historic expansion and entered a period of stagnation that has yet to abate. Nine …
Persistent link: https://www.econbiz.de/10012467749
Using annual data from the thirteenth century to the present, we show that improved long run economic performance has occurred primarily through a decline in the rate and frequency of shrinking, rather than through an increase in the rate of growing. Indeed, as economic performance has improved...
Persistent link: https://www.econbiz.de/10012455338
explanation is correct, it has important implications for policy and for forecasts. It may weaken the case for secular stagnation …
Persistent link: https://www.econbiz.de/10012455521
This paper formalizes and quantifies the secular stagnation hypothesis, defined as a persistently low or negative …
Persistent link: https://www.econbiz.de/10012455588
desired investment, leading to secular stagnation. We show that there is no such negative relationship in the data. If …
Persistent link: https://www.econbiz.de/10012455604
Conditions of secular stagnation - low interest rates, below target inflation, and sluggish output growth … - characterize much of the global economy. We consider an overlapping generations, open economy model of secular stagnation, and … examine the effect of capital flows on the transmission of stagnation. In a world with a low natural rate of interest, greater …
Persistent link: https://www.econbiz.de/10012456376