We theoretically explore long-run stagnation at the zero lower bound in a representative agent framework. We … analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for … expansionary and robust to the source of stagnation. Using Bayesian methods, we estimate a DSGE model that can accommodate two …

We theoretically explore long-run stagnation at the zero lower bound in a representative agent framework. We … analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for … expansionary and robust to the source of stagnation. Using Bayesian methods, we estimate a DSGE model that can accommodate two …

Pasinetti (1962) approach to differential saving propensities among classes with the theory of induced technical change (ITC) by …

and the induced technical change approach, the decrease in demand and the stagnation of wages can lead to an endogenous … stagnation; addressing the aforementioned factors can allow for growth to resume, as has happened in the past. …