MIT Press has released Evolution or Revolution? Rethinking Macroeconomic Policy after the Great Recession, a volume containing the papers and discussions we organized at a Peterson Institute conference held 18 months ago. While matters are still far from clear, the events since then lead us to regard secular stagnation as a significant threat to advanced countries. From somewhat different perspectives (Blanchard 2019, and Rachel and Summers 2019), we have increasingly come to believe that a major rethinking of macroeconomic policy, and in particular of fiscal policy, is in order.
Πηγή: Peterson Institute for International Economics (PIIE)