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U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound

Business economics (Cleveland, Ohio), 2014-04, Vol.49 (2), p.65-73 [Peer Reviewed Journal]

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Title:
U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound
Author: SUMMERS, LAWRENCE H.
Subjects: Business and Management ; Economic analysis ; Economic conditions ; Economic recovery ; Economic stagnation ; Economics ; Economics and Finance ; Employment ; Estimates ; Financial economics ; Forecasts and trends ; GDP ; Gross Domestic Product ; Interest ; Interest rates ; International economics ; Macroeconomics ; Market trend/market analysis ; Monetary policy ; Original Article ; Political Economy/Economic Systems ; Real interest rates ; Stagnation ; Summers, Larry
Is Part Of: Business economics (Cleveland, Ohio), 2014-04, Vol.49 (2), p.65-73
Description: The nature of macroeconomics has changed dramatically in the last seven years. Now, instead of being concerned with minor adjustments to stabilize about a given trend, concern is focused on avoiding secular stagnation. Much of this concern arises from the longrun effects of short-run developments and the inability of monetary policy to accomplish much more when interest rates have already reached their lower bound. This address analyzes contemporary macroeconomic problems and proposes solutions to put the U.S. economy back on a path toward healthy growth.
Publisher: London: Palgrave Macmillan
Language: English
Identifier: ISSN: 0007-666X
EISSN: 1554-432X
DOI: 10.1057/be.2014.13
CODEN: BECODS
Source: ProQuest Central

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