A Model of Secular Stagnation: Theory and Quantitative Evaluation
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This paper formalizes and quantifies the secular stagnation hypothesis, defined as a persistently low or negative natural rate of interest leading to a chronically binding zero lower bound (ZLB). Output-inflation dynamics and policy prescriptions are fundamentally different from those in the
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美国国家经济研究局创建时间：
2017-01-01
