Olivier Bouba-Olga : Blog d'un économiste qui suit et commente l

Blogizmo Electrosphère Economist's View Gauti Eggertson and Neil Mehotra have an interesting new paper: A Model of Secular Stagnation, by Gauti Eggertsson and Neil Mehrotra: 1 Introduction During the closing phase of the Great Depression in 1938, the President of the American Economic Association, Alvin Hansen, delivered a disturbing message in his Presidential Address to the Association (see Hansen ( 1939 )). He suggested that the Great Depression might just be the start of a new era of ongoing unemployment and economic stagnation without any natural force towards full employment. Recently Hansen’s secular stagnation hypothesis has gained increased attention. Despite the prominence of Summers’ discussion of the secular stagnation hypothesis and a flurry of commentary that followed it (see e.g. In the abstract, they note the policy prescriptions for secular stagnation: Posted by Mark Thoma on Tuesday, April 8, 2014 at 10:08 AM in Academic Papers, Economics, Macroeconomics | Permalink Comments (4) New column: Rajiv Sethi: Tim Duy:

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