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Browsing Articles (Departament d'Economia) by Subject "Secular stagnation"

Browsing Articles (Departament d'Economia) by Subject "Secular stagnation"

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  • Billi, Roberto; Galí, Jordi, 1961-; Nakov, Anton (Elsevier, 2024)
    We study the optimal monetary policy problem in a New Keynesian economy with a zero lower bound (ZLB) on the nominal interest rate, when the steady state natural rate (r*) becomes permanently negative. We show that the ...
  • Benigno, Gianluca; Fornaro, Luca (Oxford University Press, 2018)
    We provide a Keynesian growth theory in which pessimistic expectations can lead to very persistent, or even permanent, slumps characterized by high unemployment and weak growth. We refer to these episodes as stagnation ...

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