OECD Economics Department Working Papers

Secular Stagnation: Evidence and Implications for Economic Policy

DOI:https://doi.org/10.1787/5jxvgg6q27vd-en

This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy interest rates bounded at zero fail to stimulate demand sufficiently, due to low or negative neutral real interest rates and low inflation, and when ensuing...



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