In economics, secular stagnation is a condition when there is negligible or no economic growth in a market-based economy.[1][2] In this context, the term secular means long-term (from Latin "saeculum"—century or lifetime), and is used in contrast to cyclical or short-term. It suggests a change of fundamental dynamics which would play out only in its own time. The concept was originally put forth by Alvin Hansen in 1938. According to The Economist, it was used to "describe what he feared was the fate of the American economy following the Great Depression of the early 1930s: a check to economic progress as investment opportunities were stunted by the closing of the frontier and the collapse of immigration".[3][4] Warnings of impending secular stagnation have been issued after all deep recessions since the Great Depression, but the hypothesis has remained controversial.[5][6]
^"Definition of secular stagnation". Financial Times. Retrieved 9 October 2014.
^Eggertsson, Gauti B.; Mehrotra, Neil R.; Summers, Lawrence H. (2016). "Secular Stagnation in the Open Economy". American Economic Review. 106 (5): 503–507. doi:10.1257/aer.p20161106. ISSN 0002-8282.
^W., P. (16 August 2014). "Secular stagnation: Fad or fact?". The Economist.
^"U.S. Secular Stagnation?". 23 December 2015. Retrieved 2 March 2017.
^Pagano, Patrizio; Sbracia, Massimo (September 2014). The Secular Stagnation Hypothesis: A Review of the Debate and Some Insights (PDF) (Report). Questioni di Economia e Finanza (Occasional papers), number 231. Bank of Italy. doi:10.2139/ssrn.2564126. ISSN 1556-5068.
^Wessel, David (2017-05-30). "'Secular stagnation' even truer today, Larry Summers says". Brookings. Retrieved 2019-05-03.
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economics, secularstagnation is a condition when there is negligible or no economic growth in a market-based economy. In this context, the term secular means...
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John F.; Alperovitz, Gar (June 1995). "The onset and persistence of secularstagnation in the U.S. economy: 1910–1990, Journal of Economic Issues". Habakkuk...
excess reserves Negative interest rate Zero interest-rate policy Secularstagnation Shadow rate, which can be used to model interest rates near the zero...
John F.; Alperovitz, Gar (June 1995). "The onset and persistence of secularstagnation in the U.S. economy: 1910–1990". Journal of Economic Issues. 29 (2):...
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their implications on Emerging Market Economies (EMEs),especially India" 2016 Heinz D. Kurz "SECULARSTAGNATION - Observations on a Recurrent Spectre"...
from the original (PDF) on 14 July 2014. Retrieved 8 October 2014. ""Secularstagnation" in graphics". The Economist. 19 November 2014. Retrieved 8 February...
capital investment was a cause of the depression is a central theme in secularstagnation theory. Keynes argued that if the national government spent more money...
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empirically works only in the short term, because it would predict “secularstagnation” (infinity long depression) in the long run, which did not occur....
no empirical evidence for the savings glut hypothesis nor for the secularstagnation hypothesis. Instead, low growth is explained by the emergence of quasi...
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modern era. "Secular" is a part of the Christian church's history, which even has secular clergy since the medieval period. Furthermore, secular and religious...
offers an original interpretation of the phenomenon of so-called 'secularstagnation', or, as someone has also termed it, 'the end of growth'. Nearly ten...
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