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U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound
Abstract
I would like to thank Michael Peterson very much for his generous words of introduction and for his thoughtful observations about the long-run economic challenges that our country faces. You do not, however, get to the long run except through the short run, and what happens in the short run has a profound impact on the long run. To reverse Keynes a bit, if you die in the short run, there is no long run. So my preoccupation this morning will be...
Paper Details
Title
U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound
Published Date
Apr 1, 2014
Journal
Volume
49
Issue
2
Pages
65 - 73
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