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Is the world economy in secular stagnation? What are the implications?

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Frame of Image reason for advanced economies failure to return to precrisis growth levels? • what alternative policies might be pursued by advanced economies to escape secular stagnation, should stagnation proponents be proven correct
Aggregate G4 GDP, Potential, and Trend
Note: The G4 includes the Eurozone, Japan, the United Kingdom, and the United States. Potential output estimates from OECD and IMF Source: Davies 2013.
Short-Term Interest Rates during Global Recessions and Recoveries for Advanced Economies (%)
Note: Zero is the global recession year. Each line shows the PPP-weighted average of the countries in the advanced economies. The red line refers to Recovery from the Great Recession; the blue line refers to the Average of previous recessions (1975, 1982, 1991) and the grey vertical line refers to the Global recession year.
Source: Kose, Loungani, and Terrones 2013, 34.
Real Primary Expenditure of Advanced Economies (index, PPP weighted)
Note: Zero is the global recession year. Each line shows the PPP-weighted average of the countries in the advanced economies. The red line refers to Recovery from the Great Recession; the blue line refers to the Average of previous recessions (1975, 1982, 1991) and the grey vertical line refers to the Global recession year.
Source: Kose, Loungani, and Terrones 2013, 34.
U.S.–Private Nonresidential Investment and Real Interest Rates
Source: Fatás 2013a
Global Savings as a Percentage of GDP
Source: IMF World Economic Outlook (WEO) Database
The Saving


Full Text
Title Is the world economy in secular stagnation? What are the implications?
Similar Titles
Project Category Capacity Building Workshops
Material Type Proceedings
Author(English)

Canuto, Otaviano

Publisher

[Washington, DC]:World Bank Institute

Date 2014-04
Event

Frontiers in Development Policy

Project Capacity Building Workshops
Pages 9
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Conditions
Holding KDI School of Public Policy and Management
Program Type Conference