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Classical Political Economy and Secular Stagnation [PDF]
SSRN Electronic Journal, 2021 This paper presents a model of secular stagnation, income and wealth distribution, and employment in the Classical Political Economy tradition, that can be contrasted with the accounts by Piketty (2014) and Gordon (2015). In these explanations, an exogenous reduction in the growth rate g -because of declining fertility or the exhaustion of path ...
Luzuriaga, Manuel Cruz, Tavani, Daniele
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Sensitivity of Turkey's Economy in the Context of Secular Stagnation
İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi, 2022 The theory of secular stagnation was first used in 1939 by Alvin Hansen in reference to the American economy during the Great Depression. After the seventy years after Hansen's theory, the global crisis and the subsequent developments that occurred after
Hasan Önder Sarıdoğan
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Management : Journal of Contemporary Management Issues, 2022 This paper aims to provide a possible explanation for the strange reoccurrence of the dual economy in developed countries. The dual economy is understood as consisting mainly of two sectors that differ in productivity, salaries, and related ...
Milenko Popović, Ivan Radević
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The Secular Stagnation Hypothes is and the Future of Europe’s Advanced Economies
Politeja, 2020 The secular stagnation hypothesis originated in the late 1930s when Alvin Hansen proposed that the American economy will experience a prolonged depression because of the slowdown in demographics. Widely discussed in the aftermath of the Great Depression,
Artur F. Tomeczek
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The Case against the New "Secular Stagnation Hypothesis"
Quarterly Journal of Austrian Economics, 2021 : The new “secular stagnation hypothesis” developed by Lawrence H. Summers attempts to justify why the demand stimulus applied in the aftermath of the global financial crisis failed to revive growth in a satisfactory manner. Building on previous ideas of
Mihai Macovei
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Secular Stagnation and Income Distribution Dynamics [PDF]
Review of Radical Political Economics, 2020 This paper contributes to the literature on secular stagnation by estimating a measure of potential output growth for the post-war US economy derived from a novel model specification that allows for the cyclical interactions between income distribution, represented by the trajectory of the labor share of income, and economic activity, as measured by ...
David Kiefer +3 more
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The finance-growth nexus in the age of financialisation: An empirical reassessment for the European Union countries [PDF]
Panoeconomicus, 2022 This paper draws an empirical reassessment of the finance-growth nexus by performing a panel data econometric analysis for all 28 European Union countries over 27 years from 1990 to 2016. Since the mid-1980s, the financial system has experienced a strong
Barradas Ricardo
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Democracy under siege: Democratic solidarity between global crisis and cosmopolitan hope [PDF]
Filozofija i Društvo, 2017 For almost half a century (between 1940 and 1990) the democratic and social state has solved the twofold problem of growth and social exclusion through social inclusion within the borders of the national state. This solution since the 1970s came
Brunkhorst Hauke
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Secularism and Fertility Worldwide
Socius, 2021 This study proposes and explores a new fertility determinant: societal secularism. Using country-level data from multiple sources ( n = 181) and multilevel data from 58 countries in the World Values Survey ( n = 83,301), the author documents a strong ...
Landon Schnabel
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Secular Stagnation, Rational Bubbles, and Fiscal Policy [PDF]
, 2016 It is well known that rational bubbles can be sustained in balanced growth path of a deterministic economy when the return to capital r is equal to the growth rate g. When there is a lack of stores of value, bubbles can implement an efficient allocation.
Teulings, C. N.
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