Aging, Secular Stagnation and the Business Cycle /
As of 2015, U.S. log output per capita was 12 percent below what its pre-2008 linear trend would predict. To understand why, I develop and estimate a model of the US with demographics, real and monetary shocks, and the occasionally binding ZLB on nominal rates. Demographic changes generate slow-movi...
| Autore principale: | |
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| Natura: | Periodico |
| Lingua: | English |
| Pubblicazione: |
Washington, D.C. :
International Monetary Fund,
2018.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2018/067 |
| Accesso online: | Full text available on IMF |