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Persistent link: https://www.econbiz.de/10003487851
Risk-free rates have been falling since the 1980s while the return on capital has not. We analyze these trends in a calibrated OLG model with recursive preferences, designed to encompass many of the "usual suspects" cited in the debate on secular stagnation. Declining labor force and...
Persistent link: https://www.econbiz.de/10011788433