Estagnação secular

 SECULAR STAGNATION AND THE BIG BALANCE SHEET ECONOMY

Otaviano Canuto, Policy Center for the New South

Private balance sheets have risen relative to GDP in advanced economies in the last decades, in tandem with a trend of decline in long-term real interest rates. Asset-driven macroeconomic cycles, along with a structural trend of rising influence of finance on income growth and distribution, have become part of the landscape. Underlying secular trends of stagnation may also be…

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Otaviano Canuto on Secular Stagnation and the Big Balance Sheet Economy