The Productivity Slowdown and the Secular Stagnation Hypothesis

2018 ◽  
pp. 17-41 ◽  
Author(s):  
Patrizio Pagano ◽  
Massimo Sbracia
Keyword(s):  
Secular Stagnation ◽  
Productivity Slowdown

Secular stagnation in the modern world

2018 ◽  
pp. 125-141 ◽  
Author(s):  
S. M. Drobyshevsky ◽  
P. V. Trunin ◽  
A. V. Bozhechkova
Keyword(s):  
Public Debt ◽  
Capital Accumulation ◽  
Technological Development ◽  
Japanese Economy ◽  
Modern World ◽  
Key Factors ◽  
Destruction Process ◽  
Secular Stagnation ◽  
The Impact

The paper studies the factors of secular stagnation. Key factors of long-term slowdown in economic growth include the slowdown of technological development, aging population, human capital accumulation limits, high public debt, creative destruction process violation etc. The authors analyze key theoretical aspects of long-term stagnation and study the impact of these factors on Japanies economy. The authors conclude that most of the factors have significant influence on the Japanese economy for recent decades, but they cannot explain all dynamics. For Russia, on the contrary, we do not see any grounds for considering the decline in the economy since 2013 as an episode of secular stagnation.

China's Productivity Slowdown and Future Growth Potential

2020 ◽  
Author(s):  
Loren Brandt ◽  
John Litwack ◽  
Elitza Mileva ◽  
Luhang Wang ◽  
Yifan Zhang ◽  
...  
Keyword(s):  
Growth Potential ◽  
Productivity Slowdown ◽  
Future Growth

A Long Stagnation, or Capitalism without Growth

2018 ◽  
Author(s):  
Louçã Francisco ◽  
Ash Michael
Keyword(s):  
Great Recession ◽  
World Economy ◽  
Economic Stability ◽  
Secular Stagnation ◽  
The Great Recession ◽  
The Past ◽  
The World ◽  
History Of ◽  
Growth Prospects

Chapter 11 assesses the growth prospects of the world economy. The history of global economic doomsaying is traced briefly, a frequently reasonable position that has not done well with the facts for the past hundred years. Capitalism has been adept at escaping from the pit and pendulum. A set of global imbalances is then reviewed that are seen as posing a severe threat to global economic stability and certainly to the prospects for sustainable and equitable growth. The Great Recession following the Crash of 2007–8 might be “different this time.” Historical and contemporary fears of “secular stagnation” are discussed but the speculative nature of stagnationist assessments is acknowledged.

Secular Stagnation: The New Normal for the UK?

2017 ◽  
pp. 95-102 ◽  
Author(s):  
Jonathan Perraton
Keyword(s):  
Secular Stagnation ◽  
New Normal ◽  
The Uk

scholarly journals SECULAR STAGNATION: REAL PROBLEMS AND STATISTICAL ILLUSIONS

2021 ◽  
Vol 230 (4) ◽  
pp. 156-178
Author(s):  
J.K. GALBRAITH ◽  
Keyword(s):  
Quality Of Life ◽  
Public Goods ◽  
Productivity Growth ◽  
Policy Making ◽  
Public Services ◽  
Price Change ◽  
National Income ◽  
Secular Stagnation ◽  
Manufacturing Employment

The changing economic structures, increased complexity and social requirements of advanced societies have rendered the statistical foundations of the National Income and Product Accounts highly problematic as a guide to policy-making. Discussions of “secular stagnation” and low productivity growth are predicated on these problematic measures, including the measures of price change that are used to distinguish “real” from “nominal” changes. This paper explores the consequences for measurement and for policy of the rise of the decline of manufacturing employment, the rise of services, and the rising need for public goods, public services, and investments aimed at sustainability and at the quality of life.

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