chartalist, respectively), the rate of wage inflation depends on either unemployment or the wage-setting policies of the … inflation affects aggregate demand through its impact on the value of assets and debts. Bank rates depend on an endogenous …

of secular stagnation, we estimate the natural rate including those flows explicitly. It is shown that adding this … measure indeed changes the estimated natural rate and thus the degree of evidence of secular stagnation in various countries … Themas säkulare Stagnation steht, schätzen wir den natürlichen Zinssatz in einem Modell mit Safe Haven Flüssen. Es wird …