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This paper presents a classical-Keynesian one sector model of labor-constrained growth that explains secular stagnation … model variants, the adverse effect of structural change on labor productivity leads to stagnation. However, only the Keynes …
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This paper argues that the re-emergence of stagnation tendencies in modern capitalism can be related to … Eurozone and its main member countries, imposes an aggregation problem on the global economy and thus contributes to stagnation …
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We analyze the long-run growth effects of automation in the canonical overlapping generations framework. While automation implies constant returns to capital within this model class (even in the absence of technological progress), we show that it does not have the potential to lead to positive...
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