There have been many noticeable incidents of "lost decades" in economic growth, occurring in countries across the world. It has been found that in many economies, the lost decade phenomenon persists, even after the conventional set of contributing factors such as per capita income, fertility...

We estimate a medium-scale DSGE model, including a financial accelerator and the search and matching framework in labor markets, for the Korean economy, using the Bayesian technique. The estimated model shows that the recent sluggishness in GDP growth can be explained by slow technology growth,...