Secular Stagnation and the Future of Global Macroeconomic Policy

Lawrence H. Summers discusses “Secular Stagnation and the Future of Global Macroeconomic Policy" at the Peterson Institute for International Economics on April 15, 2019. Summers, the Charles W. Eliot University Professor and president emeritus at Harvard University, argues that events of the last five years confirm that secular stagnation is real and spreading, and that fiscal not monetary policy will play the major role in stabilization policy going forward. As a result, Summers contends that the industrialized world has passed peak central bank independence, and that secular stagnation is ironically a product of the information technology revolution—supply side progress has created demand side problems.
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Видео Secular Stagnation and the Future of Global Macroeconomic Policy канала Peterson Institute for International Economics