NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Secular Stagnation: The Long View

Barry Eichengreen

NBER Working Paper No. 20836
Issued in January 2015
NBER Program(s):Development of the American Economy

Four explanations for secular stagnation are distinguished: a rise in global saving, slow population growth that makes investment less attractive, averse trends in technology and productivity growth, and a decline in the relative price of investment goods. A long view from economic history is most supportive of the last of these four views.

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Document Object Identifier (DOI): 10.3386/w20836

Published: Barry Eichengreen, 2015. "Secular Stagnation: The Long View," American Economic Review, American Economic Association, vol. 105(5), pages 66-70, May. citation courtesy of

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