Teulings, Coen N. - In: CESifo economic studies : CESifo, a joint initiative of … 62 (2016) 2, pp. 197-209
is going through an episode of Secular Stagnation, where the equilibrium rate of return on capital r is below the growth … generations. An increase in sovereign debt is, therefore, an efficient response to Secular Stagnation. Instead, the current …