Aging Secular Stagnation and the Business Cycle is popular PDF and ePub book, written by Callum Jones in 2018-03-23, it is a fantastic choice for those who relish reading online the Social Science genre. Let's immerse ourselves in this engaging Social Science book by exploring the summary and details provided below. Remember, Aging Secular Stagnation and the Business Cycle can be Read Online from any device for your convenience.
Aging Secular Stagnation and the Business Cycle Book PDF Summary
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-moving trends in the real interest rate, employment, and productivity. I find that demographics alone can explain one-third of the gap between log output per capita and its linear trend in 2015. Demographics also lowered real rates, causing the ZLB to bind between 2009 and 2015, contributing to the slow recovery after the Great Recession.
Detail Book of Aging Secular Stagnation and the Business Cycle PDF
- Author : Callum Jones
- Release : 23 March 2018
- Publisher : International Monetary Fund
- ISBN : 9781484348611
- Genre : Social Science
- Total Page : 45 pages
- Language : English
- PDF File Size : 20,9 Mb
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