A Tale of Two Theories
Global growth continues to disappoint, with the IMF once again downgrading its forecast for this year. Is "secular stagnation" the cause, or is the monetary stimulus being used to fight that stagnation to blame?
https://prosyn.org/xs05N01
PARIS – Global growth disappoints again. A year ago, the International Monetary Fund expected world output to rise 4% in 2015. Now the Fund is forecasting 3.3% for the year – about the same as in 2013 and 2014, and more than a full percentage point below the 2000-2007 average.