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PRODID:https://www.diw.de/de/diw_01.c.806339.de/veranstaltungen.html
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UID:diw_01.c.513502.en
LOCATION:Gustav-Schmoller-Raum,DIW Berlin im Quartier 110,3.3.002A,Anton-Wilhelm-Amo-Straße 58,10117 Berlin
SUMMARY:Stagnation Traps
DESCRIPTION:12:00 - 13:15 // We provide a Keynesian growth theory in which pessimistic expectations can lead to permanent, or very persistent, slumps characterized by unemployment and weak growth. We refer to these episodes as stagnation traps, because they consist in the joint occurrence of a liquidity and a growth trap. In a stagnation trap, the central bank is unable to restore full employment because weak growth pushes the interest rate against the zero lower bound, while growth is weak because low aggregate demand results in low profits, limiting firms’ investment in innovation. Policies aiming at restoring growth can successfully lead the economy out of a stagnation trap, thus rationalizing the notion of job creating growth. 
DTSTART;VALUE=DATE:20151021
DTEND;VALUE=DATE:20151021
DTSTAMP:20150907T220000Z
URL:https://www.diw.de/en/diw_01.c.513502.en/events/stagnation_traps.html
ORGANIZER;CN=Hedwig Plamper
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