Replication data for: Demand Side Secular Stagnation
Principal Investigator(s): View help for Principal Investigator(s) Lawrence H. Summers
Version: View help for Version V1
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| P2015_1103_data | 10/12/2019 10:48:AM | ||
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text/plain | 14.6 KB | 10/12/2019 06:48:AM |
Project Citation:
Summers, Lawrence H. Replication data for: Demand Side Secular Stagnation. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113415V1
Project Description
Summary:
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The experience of first Japan and now Europe and the USA suggests that Hansen's concept of secular stagnation is highly relevant. Recovery has been anemic and follows a generation of financially unsustainable and often lackluster growth. Investment demand has declined while the supply of saving has increased, leaving the economy vulnerable to liquidity traps. Although some US indicators have improved, forward real rates have declined sharply, European prospects remain muddled, and the zero-bound will likely constrain again during the next recession. Infrastructure and private investment are the best ways to both minimize the risk of secular stagnation and raise demand.
Scope of Project
JEL Classification:
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E23 Macroeconomics: Production
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E31 Price Level; Inflation; Deflation
E32 Business Fluctuations; Cycles
H62 National Deficit; Surplus
O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
E23 Macroeconomics: Production
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E31 Price Level; Inflation; Deflation
E32 Business Fluctuations; Cycles
H62 National Deficit; Surplus
O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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