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Secular Stagnation: The Long View

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  • Barry Eichengreen

Abstract

Four explanations for secular stagnation are distinguished: a rise in global saving, slow population growth that makes investment less attractive, averse trends in technology and productivity growth, and a decline in the relative price of investment goods. A long view from economic history is most supportive of the last of these four views.

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  • Barry Eichengreen, 2015. "Secular Stagnation: The Long View," NBER Working Papers 20836, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:20836
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    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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