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Stanley Fischer is a rarity among economic policymakers. He came to the policy world as an internationally recognized intellectual leader on macroeconomic theory and policy. He confronted numerous emerging market crises, including the globally systemic Asian crisis, as the IMF’s First Deputy...
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period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government …, and a combination of high saving rates and slow population growth account for the stagnation of the 1990s. This …
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This paper examines several mainstream explanations of the financial crisis and stagnation and the role they attribute … financial crisis and stagnation, making it critical we get the story right. … Stagnation sowie die Rolle, die sie der Einkommensungleichheit zuschreiben. Diesen Erklärungen wird eine strukturelle …
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of stagnation or low growth. Comparative case studies of the Great Depression, the Latin American debt crisis of the 1980 … prosperity for a long time? The main conclusion is that stagnation after big financial crises becomes likely when the balance …
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This paper examines Steindl s original 1952 model and relates it to subsequent stagnationist models. The model is then extended by introducing endogenous changes in the markup and a reformulation of the investment function. These extensions address weaknesses of the simpler models, find support...
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