As an alternative explanation to this two-word idea, a recent paper by James Hamilton et al. posited the idea of "medium-term headwinds."
As an alternative explanation to this two-word idea, a recent paper by James Hamilton et al. posited the idea of "medium-term headwinds." Gauti Eggertsson and Neil Mehrota used an overlapping generations model to hypothesize that this two-word phenomenon can be caused by combinations of deleveraging shocks, population growth slowdown, and inequality increases. This two-word theory was criticized for its emphasis on domestic capital formation and domestic household spending in an article that posited a "global savings glut" as an alternative to it. This two-word theory was introduced in a 1939 presentation titled "Economic Progress and Declining Population Growth," which was delivered by Alvin (*) Hansen. A 2013 speech at the IMF Conference on combating this two-word phenomenon was delivered by Larry Summers, which led to a much-publicized debate with Ben Bernanke. For 10 points, name this two-word term applied to permanent, rather than cyclical, slowdowns in market-based economies, which has nothing to do with a lack of religion.
As an alternative explanation to this two-word idea, a recent paper by James Hamilton et al. posited the idea of "medium-term headwinds."
secular stagnation [prompt on "stagnation"]