Short-Run Effects of Lower Productivity Growth. A Twist on the Secular Stagnation Hypothesis
NBER Working Paper No. 23160
---- Acknowledgments ----
Prepared for AEA meetings, January 2017. Thanks to Julien Acalin and Colombe Ladreit for excellent research assistance. Thanks to PIIE colleagues for comments, and to Flint Brayton for help with the FRB/US model and for comments on the draft. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.