| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20574 |
| 来源ID | Working Paper 20574 |
| A Model of Secular Stagnation | |
| Gauti B. Eggertsson; Neil R. Mehrotra | |
| 发表日期 | 2014-10-20 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We propose an overlapping generations New Keynesian model in which a permanent (or very persistent) slump is possible without any self-correcting force to full employment. The trigger for the slump is a deleveraging shock, which creates an oversupply of savings. Other forces that work in the same direction and can both create or exacerbate the problem include a drop in population growth, an increase in income inequality, and a fall in the relative price of investment. Our model sheds light on the long persistence of the Japanese crisis, the Great Depression, and the slow recovery out of the Great Recession. It also highlights several implications for policy. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w20574 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578261 |
| 推荐引用方式 GB/T 7714 | Gauti B. Eggertsson,Neil R. Mehrotra. A Model of Secular Stagnation. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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