| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22172 |
| 来源ID | Working Paper 22172 |
| Secular Stagnation in the Open Economy | |
| Gauti B. Eggertsson; Neil R. Mehrotra; Lawrence H. Summers | |
| 发表日期 | 2016-04-18 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Conditions of secular stagnation - low interest rates, below target inflation, and sluggish output growth – now characterize much of the global economy. We consider a simple two-country textbook model to examine how capital markets transmit secular stagnation and to study policy externalities across countries. We find capital flows transmit recessions in a world with low interest rates and that policies that trigger current account surpluses are beggar-thy-neighbor. Monetary expansion cannot eliminate a secular stagnation and may have beggar-thy-neighbor effects, while sufficiently large fiscal interventions can eliminate a secular stagnation and carry positive externalities. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy ; International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w22172 |
| 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/579846 |
| 推荐引用方式 GB/T 7714 | Gauti B. Eggertsson,Neil R. Mehrotra,Lawrence H. Summers. Secular Stagnation in the Open Economy. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22172.pdf（842KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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