The secular stagnation hypothesis: a review of the debate and some insights
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- anonymous, 1995. "Does the bouncing ball lead to economic growth?," Regional Update, Federal Reserve Bank of Atlanta, issue Jul, pages 1-2,4-6.
- Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2010.
"Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States: 1967-2006,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(1), pages 15-51, January.
- Heathcote, Jonathan & Perri, Fabrizio & Violante, Giovanni L, 2009. "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006," CEPR Discussion Papers 7538, C.E.P.R. Discussion Papers.
- Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2009. "Unequal we stand: an empirical analysis of economic inequality in the United States, 1967-2006," Staff Report 436, Federal Reserve Bank of Minneapolis.
- Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2009. "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006," NBER Working Papers 15483, National Bureau of Economic Research, Inc.
- Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2010. "Code and data files for "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States: 1967-2006"," Computer Codes 09-214, Review of Economic Dynamics.
- Per Krusell & Lee E. Ohanian & JosÈ-Victor RÌos-Rull & Giovanni L. Violante, 2000.
"Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis,"
Econometrica, Econometric Society, vol. 68(5), pages 1029-1054, September.
- Per Krusell & Lee E. Ohanian & Jose-Victor Rios-Rull & Giovanni L. Violante, 1997. "Capital-skill complementarity and inequality: a macroeconomic analysis," Staff Report 239, Federal Reserve Bank of Minneapolis.
- David, Paul A, 1990. "The Dynamo and the Computer: An Historical Perspective on the Modern Productivity Paradox," American Economic Review, American Economic Association, vol. 80(2), pages 355-361, May.
- Ariel Burstein & Jonathan Vogel, 2017.
"International Trade, Technology, and the Skill Premium,"
Journal of Political Economy, University of Chicago Press, vol. 125(5), pages 1356-1412.
- Jonathan Vogel & Ariel Burstein, 2012. "International trade, technology, and the skill premium," 2012 Meeting Papers 664, Society for Economic Dynamics.
- John G. Fernald & Charles I. Jones, 2014.
"The Future of US Economic Growth,"
American Economic Review, American Economic Association, vol. 104(5), pages 44-49, May.
- John G. Fernald & Charles I. Jones, 2014. "The Future of U.S. Economic Growth," NBER Working Papers 19830, National Bureau of Economic Research, Inc.
- John G. Fernald & Charles I. Jones, 2014. "The Future of U.S. Economic Growth," Working Paper Series 2014-2, Federal Reserve Bank of San Francisco.
- Robert J. Barro, 2013.
"Inflation and Economic Growth,"
Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
- Robert J. Barro, 1995. "Inflation and Economic Growth," NBER Working Papers 5326, National Bureau of Economic Research, Inc.
- Robert J. Barro, 2012. "Inflation and Economic Growth," CEMA Working Papers 568, China Economics and Management Academy, Central University of Finance and Economics.
- repec:ucp:bknber:9780226304557 is not listed on IDEAS
- Lawrence F. Katz & Robert A. Margo, 2014.
"Technical Change and the Relative Demand for Skilled Labor: The United States in Historical Perspective,"
NBER Chapters, in: Human Capital in History: The American Record, pages 15-57,
National Bureau of Economic Research, Inc.
- Lawrence F. Katz & Robert A. Margo, 2013. "Technical Change and the Relative Demand for Skilled Labor: The United States in Historical Perspective," NBER Working Papers 18752, National Bureau of Economic Research, Inc.
- Andrew B. Abel & N. Gregory Mankiw & Lawrence H. Summers & Richard J. Zeckhauser, 1989.
"Assessing Dynamic Efficiency: Theory and Evidence,"
Review of Economic Studies, Oxford University Press, vol. 56(1), pages 1-19.
- Andrew Abel & Gregory N. Mankiw & Lawrence H. Summers & Richard Zeckhauser, "undated". "Assessing Dynamic Efficiency: Theory and Evidence," Rodney L. White Center for Financial Research Working Papers 14-88, Wharton School Rodney L. White Center for Financial Research.
- Andrew B. Abel & N. Gregory Mankiw & Lawrence H. Summers & Richard J. Zeckhauser, 1986. "Assessing Dynamic Efficiency: Theory and Evidence," NBER Working Papers 2097, National Bureau of Economic Research, Inc.
- Richard J. Murnane, 2013.
"U.S. High School Graduation Rates: Patterns and Explanations,"
Journal of Economic Literature, American Economic Association, vol. 51(2), pages 370-422, June.
- Richard J. Murnane, 2013. "U.S High School Graduation Rates: Patterns and Explanations," NBER Working Papers 18701, National Bureau of Economic Research, Inc.
- Daron Acemoglu, 1998.
"Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality,"
The Quarterly Journal of Economics, Oxford University Press, vol. 113(4), pages 1055-1089.
- Acemoglu, D., 1997. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," Working papers 97-14, Massachusetts Institute of Technology (MIT), Department of Economics.
- Acemoglu, Daron, 1997. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," CEPR Discussion Papers 1707, C.E.P.R. Discussion Papers.
- James J. Heckman & Paul A. LaFontaine, 2010.
"The American High School Graduation Rate: Trends and Levels,"
The Review of Economics and Statistics, MIT Press, vol. 92(2), pages 244-262, May.
- James J. Heckman & Paul A. LaFontaine, 2007. "The American High School Graduation Rate: Trends and Levels," NBER Working Papers 13670, National Bureau of Economic Research, Inc.
- James J. Heckman & Paul A. LaFontaine, 2008. "The American High School Graduation Rate: Trends And Levels," Working Papers 200828, Geary Institute, University College Dublin.
- Heckman, James J. & LaFontaine, Paul A., 2007. "The American High School Graduation Rate: Trends and Levels," IZA Discussion Papers 3216, Institute of Labor Economics (IZA).
- Daron Acemoglu & David Autor, 2012.
"What Does Human Capital Do? A Review of Goldin and Katz's The Race between Education and Technology,"
Journal of Economic Literature, American Economic Association, vol. 50(2), pages 426-463, June.
- Daron Acemoglu & David Autor, 2012. "What Does Human Capital Do? A Review of Goldin and Katz's The Race between Education and Technology," NBER Working Papers 17820, National Bureau of Economic Research, Inc.
- Zvi Griliches, 1998.
"Patent Statistics as Economic Indicators: A Survey,"
NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 287-343,
National Bureau of Economic Research, Inc.
- Griliches, Zvi, 1990. "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1661-1707, December.
- Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
- Charles I. Jones, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 495-525.
- Daron Acemoglu, 2002.
"Technical Change, Inequality, and the Labor Market,"
Journal of Economic Literature, American Economic Association, vol. 40(1), pages 7-72, March.
- Daron Acemoglu, 2000. "Technical Change, Inequality, and the Labor Market," NBER Working Papers 7800, National Bureau of Economic Research, Inc.
- Brent Neiman, 2014.
"The Global Decline of the Labor Share,"
The Quarterly Journal of Economics, Oxford University Press, vol. 129(1), pages 61-103.
- Loukas Karabarbounis & Brent Neiman, 2013. "The Global Decline of the Labor Share," NBER Working Papers 19136, National Bureau of Economic Research, Inc.
- William D. Nordhaus, 1972. "The Recent Productivity Slowdown," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 3(3), pages 493-546.
- Simon Kuznets & Elizabeth Jenks, 1953. "Shares of Upper Income Groups in Income and Savings (1953)," NBER Books, National Bureau of Economic Research, Inc, number kuzn53-1, June.
- Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
- Ricardo J Caballero & Emmanuel Farhi, 2018.
"The Safety Trap,"
Review of Economic Studies, Oxford University Press, vol. 85(1), pages 223-274.
- Ricardo J Caballero & Emmanuel Farhi, "undated". "The Safety Trap," Working Paper 233766, Harvard University OpenScholar.
- Ricardo J. Caballero & Emmanuel Farhi, 2014. "The Safety Trap," NBER Working Papers 19927, National Bureau of Economic Research, Inc.
- Ricardo Caballero & Emmanuel Farhi, 2015. "The Safety Trap," Working Paper 146986, Harvard University OpenScholar.
- David M. Byrne & Stephen D. Oliner & Daniel E. Sichel, 2013.
"Is the Information Technology Revolution Over?,"
International Productivity Monitor, Centre for the Study of Living Standards, vol. 25, pages 20-36, Spring.
- Stephen D. Oliner & Daniel E. Sichel & David M. Byrne, 2013. "Is the information technology revolution over?," AEI Economics Working Papers 4618, American Enterprise Institute.
- David M. Byrne & Stephen D. Oliner & Daniel E. Sichel, 2013. "Is the information technology revolution over?," Finance and Economics Discussion Series 2013-36, Board of Governors of the Federal Reserve System (U.S.).
- Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-784, August.
- Robert Barsky & Alejandro Justiniano & Leonardo Melosi, 2014. "The Natural Rate of Interest and Its Usefulness for Monetary Policy," American Economic Review, American Economic Association, vol. 104(5), pages 37-43, May.
- Robert J. Gordon, 1990. "The Measurement of Durable Goods Prices," NBER Books, National Bureau of Economic Research, Inc, number gord90-1, June.
- Facundo Alvaredo & Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2013.
"The Top 1 Percent in International and Historical Perspective,"
Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 3-20, Summer.
- Facundo Alvaredo & Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2013. "The Top 1 Percent in International and Historical Perspective," NBER Working Papers 19075, National Bureau of Economic Research, Inc.
- repec:fth:harver:1473 is not listed on IDEAS
- Pietro Cova & Patrizio Pagano & Massimiliano Pisani, 2014. "Foreign exchange reserve diversification and the "exorbitant privilege"," Temi di discussione (Economic working papers) 964, Bank of Italy, Economic Research and International Relations Area.
- Martin Neil Baily & Robert J. Gordon, 1988. "The Productivity Slowdown, Measurement Issues, and the Explosion of Computer Power," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(2), pages 347-432.
- Peter Temin, 2006. "The Economy of the Early Roman Empire," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 133-151, Winter.
- Samuelson, Paul A., 1988. "The Keynes-Hansen-Samuelson multiplier-accelerator model of secular stagnation," Japan and the World Economy, Elsevier, vol. 1(1), pages 3-19, October.
- Xavier Sala-I-Martin, 1997.
"Transfers, Social Safety Nets, and Economic Growth,"
IMF Staff Papers, Palgrave Macmillan, vol. 44(1), pages 81-102, March.
- Xavier Sala-i-Martin, 1995. "Transfers, social safety nets and economic growth," Economics Working Papers 139, Department of Economics and Business, Universitat Pompeu Fabra.
- Patrizio Pagano & Massimo Sbracia & Andrea Finicelli, 2008.
"Trade-revealed TFP,"
2008 Meeting Papers
717, Society for Economic Dynamics.
- Finicelli, Andrea & Pagano, Patrizio & Sbracia, Massimo, 2009. "Trade-revealed TFP," MPRA Paper 16951, University Library of Munich, Germany.
- Andrea Finicelli & Patrizio Pagano & Massimo Sbracia, 2009. "Trade-Revealed TFP," Temi di discussione (Economic working papers) 729, Bank of Italy, Economic Research and International Relations Area.
- Griliches, Zvi, 1969. "Capital-Skill Complementarity," The Review of Economics and Statistics, MIT Press, vol. 51(4), pages 465-468, November.
- Simon Kuznets & Elizabeth Jenks, 1953.
"Shares of Upper Income Groups in Savings,"
NBER Chapters, in: Shares of Upper Income Groups in Income and Savings (1953), pages 171-218,
National Bureau of Economic Research, Inc.
- Simon Kuznets, 1950. "Shares of Upper Income Groups in Savings," NBER Chapters, in: Shares of Upper Income Groups in Income and Savings (1950), pages 45-58, National Bureau of Economic Research, Inc.
- Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66, pages 281-281.
- Michael Kremer, 1993. "Population Growth and Technological Change: One Million B.C. to 1990," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 681-716.
- Crafts, Nicholas, 2002. "The Solow Productivity Paradox in Historical Perspective," CEPR Discussion Papers 3142, C.E.P.R. Discussion Papers.
- Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, June.
- Daron Acemoglu & David Laibson & John A. List, 2014.
"Equalizing Superstars: The Internet and the Democratization of Education,"
American Economic Review, American Economic Association, vol. 104(5), pages 523-527, May.
- Daron Acemoglu & David Laibson & John A. List, 2014. "Equalizing Superstars: The Internet and the Democratization of Education," NBER Working Papers 19851, National Bureau of Economic Research, Inc.
- Daron Acemoglu & David Laibson & John List, 2014. "Equalizing Superstars: The Internet and the Democratization of Education," Natural Field Experiments 00460, The Field Experiments Website.
- Kenneth A. Froot & Michael Kim & Kenneth Rogoff, 2019.
"The Law of One Price Over 700 Years,"
Annals of Economics and Finance, Society for AEF, vol. 20(1), pages 1-35, May.
- Kenneth A. Froot & Michael Kim & Kenneth Rogoff, 1995. "The Law of One Price Over 700 Years," NBER Working Papers 5132, National Bureau of Economic Research, Inc.
- Kenneth Rogoff & Kenneth Froot & Michael Kim, 2001. "The Law of One Price Over 700 Years," IMF Working Papers 01/174, International Monetary Fund.
- Froot, Kenneth A. & Kim, Michael & Rogoff, Kenneth, 1995. "The Law of One Price Over 700 Years," Working Papers 95-13, C.V. Starr Center for Applied Economics, New York University.
- repec:aei:rpaper:37301 is not listed on IDEAS
- Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2005. "Productivity, Volume 3: Information Technology and the American Growth Resurgence," MIT Press Books, The MIT Press, edition 1, volume 3, number 0262101114, September.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Grace Taylor & Rod Tyers, 2017.
"Secular Stagnation: Determinants and Consequences for Australia,"
The Economic Record, The Economic Society of Australia, vol. 93(303), pages 615-650, December.
- Grace Taylor & Rod Tyers, 2016. "Secular Stagnation: Determinants And Consequences For Australia," Economics Discussion / Working Papers 16-25, The University of Western Australia, Department of Economics.
- Grace Taylor & Rod Tyers, 2017. "Secular stagnation: Determinants and consequences for Australia," CAMA Working Papers 2017-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Federico Barbiellini Amidei & Matteo Gomellini & Paolo Piselli, 2018. "The contribution of demography to Italy's economic growth: a two-hundred-year-long story," Questioni di Economia e Finanza (Occasional Papers) 431, Bank of Italy, Economic Research and International Relations Area.
- Stefano Di Bucchianico, 2019. "A critical analysis of the secular stagnation theory," Departmental Working Papers of Economics - University 'Roma Tre' 0245, Department of Economics - University Roma Tre.
- van den End, Jan Willem & Hoeberichts, Marco, 2018.
"Low real rates as driver of secular stagnation: Empirical assessment,"
Japan and the World Economy, Elsevier, vol. 46(C), pages 29-40.
- Jan Willem van den End & Marco Hoeberichts, 2014. "Low real rates as driver of secular stagnation: empirical assessment," DNB Working Papers 444, Netherlands Central Bank, Research Department.
- Barry Eichengreen, 2015. "Wall of Worries: Reflections on the Secular Stagnation Debate," IMES Discussion Paper Series 15-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
- Daniele, Vittorio, 2015. "Una stagnazione secolare? Italia, Giappone, Stati Uniti, 1950-2015 [Towards a secular stagnation? Italy, Japan, United States, 1950-2015]," MPRA Paper 69997, University Library of Munich, Germany.
- Ignazio Visco, 2019. "Stabilità e sviluppo in un'economia globale (Stability and development in a global economy)," Moneta e Credito, Economia civile, vol. 72(285), pages 3-13.
More about this item
Keywords
secular stagnation; technological change; income inequality;JEL classification:
- O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
- O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
NEP fields
This paper has been announced in the following NEP Reports:- NEP-HIS-2014-11-01 (Business, Economic & Financial History)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_231_14. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/bdigvit.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.