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The "Natural" Interest Rate and Secular Stagnation

Lance Taylor

No 2016-06, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: The "natural" interest rate in loanable funds macroeconomic models doesn't always fit the data. New Keynesian models, in which economic performance is determined by loanable funds, are inconsistent with macroeconomic data.

Keywords: Demand; Growth; Keynes; Interest Rates; Loanable Funds (search for similar items in EconPapers)
JEL-codes: E12 E40 E5 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2016-06
New Economics Papers: this item is included in nep-mac and nep-pke
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