Vox, in collaboration with CEPR Press, has launched a free eBook, with chapters written by some of the world’s best-known macroeconomists and economic historians. The full text can be downloaded without charge, so there is no excuse for not reading it.
Economic growth is still anaemic despite years of zero interest rates. Is ‘secular stagnation’ to blame? What does secular stagnation really mean? And if it’s for real, what must be done?
Today, VoxEU.org launches an eBook that gathers the views of leading economists including Summers, Krugman, Gordon, Blanchard, Koo, Eichengreen, Caballero, Glaeser and a dozen others (edited by Coen Teulings and me). Collectively, the chapters suggest that something historic is afoot.
Richard Baldwin, “Secular stagnation: Facts, causes, and cures – a new Vox eBook“, Vox, 15 August 2014.
The link above contains a summary of the 179-page book. The full text can be downloaded without charge as a pdf. This is the table of contents:
Coen Teulings and Richard Baldwin
1 Reflections on the ‘New Secular Stagnation Hypothesis’
Laurence H Summers
2 Secular stagnation: A review of the issues
3 The turtle’s progress: Secular stagnation meets the headwinds
Robert J Gordon
4 Four observations on secular stagnation
5 Secular joblessness
Edward L Glaeser
6 Secular stagnation? Not in your life
7 Secular stagnation: US hypochondria, European disease?
8 A prolonged period of low real interest rates?
Olivier Blanchard, Davide Furceri and Andrea Pescatori
9 On the role of safe asset shortages in secular stagnation
Ricardo J Caballero and Emmanuel Farhi
10 A model of secular stagnation
Gauti B. Eggertsson and Neil Mehrotra
11 Balance sheet recession is the reason for secular stagnation
Richard C Koo
12 Monetary policy cannot solve secular stagnation alone
Guntram B Wolff
13 Secular stagnation: A view from the Eurozone
Juan F. Jimeno, Frank Smets and Jonathan Yiangou