Archive
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Article
Larry Summers: Reagan’s Tax Plan Was Better Than Trump’s
Dec 20, 2017
Summers discusses inequality, the GOP tax plan, and our economic future
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Conference Session
Servaas Storm: Secular Stagnation, Loanable Funds and the ZLB
Dec 16, 2017 |
Servaas Storm’s commentary on the papers presented at the secular stagnation conference.
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Article
Why Stopping Tax “Reform” Won’t Stop Inequality
Dec 15, 2017
Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers
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Working Paper
Conference paperTransition to Slower Population Growth: Demography and its Effect on Real Interest Rates
Dec 2017
The past 30 years has witnessed a worldwide decrease in real interest rates. We demonstrate that a large part of the fall in interest rates can be explained by changes in demography, which are as the result of a sudden fall in fertility rates across all of the advanced economies in the early 1970s.
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Working Paper
Conference paperEndogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
Dec 2017
We examine the hypothesis that the slowdown in productivity following the Great Recession was in significant part an endogenous response to the contraction in demand that induced the downturn.
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Working Paper
Conference paperSecular Demand Stagnation in the 21st Century U.S. Economy
Dec 2017
The concern that an economy could experience persistent, and in some sense unusual, weakness goes back to Keynes’s General Theory and led Alvin Hansen to coin the term “secular stagnation.”
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Working Paper
Conference paperAging, Output per capita and Secular Stagnation
Dec 2017
This paper shows that aging has positive effect on output growth per capital at positive interest rates, due to capital deepening.
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Working Paper
Conference paperStagnation Traps
Dec 2017
We provide a Keynesian growth theory in which pessimistic expectations can lead to very persistent, or even permanent, slumps characterized by high unemployment and weak growth.
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Working Paper
Conference paperInequality and Aggregate Demand
Dec 2017
We explore the transmission mechanism of income inequality to output.
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Working Paper
CommentarySome Thoughts on Secular Stagnation, Loanable Funds and the ZLB
Dec 2017
I have read the various conference papers and am struck by the fact that many use the (omnipresent New-Keynesian) model of an aggregate loanable funds market to diagnose secular stagnation and investigate possible remedies.
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Working Paper
Conference paperThe Rate of Return on Everything, 1870–2015
Dec 2017
This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century.
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Working Paper
Conference paperAre Low Real Interest Rates Here to Stay?
Dec 2017
Long-term real interest rates across the world are low, having fallen by about 450 basis points (bps) over the past thirty years.
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Working Paper
Conference paperA Model of Secular Stagnation: Theory and Quantitative Evaluation
Dec 2017
This paper replaces an earlier version of a paper released in 2014 under the title “A Model of Secular Stagnation.”
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Conference Session
The Debate over Secular Stagnation
Dec 15, 2017 | 09:15—10:15
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Conference Session
Long-Run Interest Rates and Secular Stagnation
Dec 15, 2017 | 02:10—03:30