Gehe zu…
RSS Feed

10. Juli 2020

Demand-Side Secular Stagnation of Productivity Growth




Without new economic thinking, macro policy will retain its deflationary biases and secular stagnation remains the ‘normal’. A spectre is haunting the U.S. economy — the threat of stagnation. The anaemic recovery of the American economy after the Global Financial Crisis of 2008-09 looked uncomfortably similar to what Alvin E. Hansen (1939, p. 4) in the late stage of the Great Depression had called “sick recoveries which die in their infancy and depressions [….] feed on themselves and leave a hard and seemingly immovable core of unemployment.”

Not surprisingly, therefore, interest is once again growing in Hansen’s ‘secular stagnation’ thesis which stated that an economy could experience persistent stagnation as a result of a structural shortage of aggregate demand.



Source link

Download Best WordPress Themes Free Download
Download Best WordPress Themes Free Download
Download WordPress Themes Free
Download Nulled WordPress Themes
free online course

Schreibe einen Kommentar

Weitere Geschichten ausAllgemein