Saturday, August 16, 2014
How Do We Explain Secular Stagnation?
The Centre for Economic Policy Research, based in London, consists of 900 research economists primarily from Europe. It has published this E-Book which includes a number of articles on the problem of secular stagnation. Some of the explanations are supply side arguments which claim that that we are experiencing a decline in potential GDP. Others are demand side arguments which claim that weak demand is responsible for slower economic growth. In any case, the E-Book contains the viewpoints of some of the most prominent economists from around the world. It should be required reading for those who want to understand our slow recovery from the Great Recession.