Found 220 article(s) for author 'Lawrence Summers'

Washington must not settle for secular stagnation

Washington must not settle for secular stagnation. Lawrence Summers, May 2014, Opinion. “We may be in a period of “secular stagnation” in which sluggish growth and output, and employment levels well below potential, might coincide for some time to come with problematically low real interest rates. Since the start of this century, annual US gross domestic product growth has averaged less than 1.8 per cent. The economy is now operating nearly 10 per cent – or more than $1.6tn – below what was judged to be its potential as recently as 2007. And all this is in the face of negative real interest rates for terms of more than five years and…” Link

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Reflections on the ‘New Secular Stagnation Hypothesis’

Reflections on the ‘New Secular Stagnation Hypothesis’. Lawrence Summers, 2014, Book Chapter within the book Secular Stagnation: facts, causes and cures.  “The Great Recession has cast doubt on the idea that, with or without policy intervention, the workings of the market will eventually eliminate output gaps. This chapter explains why a decline in the full-employment real interest rate (FERIR) coupled with low inflation could indefinitely prevent the attainment of full employment. A variety of  factors suggest that the FERIR has declined substantially over the last several decades in the industrial world...” Link

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Economic stagnation is not our fate — unless we let it be

Economic stagnation is not our fate — unless we let it be. Lawrence Summers, December 18, 2013, Opinion. “Is it possible that the U.S. economy and those of other major nations might not return to full employment and strong growth without the help of unconventional policy support? I raised that notion — the old idea of “secular stagnation” — recently in a talk hosted by the International Monetary Fund. My concern rests on several considerations. First, even though financial repair had largely taken place four years ago, recovery has kept up only with population growth and normal productivity growth…”  Link 

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Why stagnation might prove to be the new normal

Why stagnation might prove to be the new normal. Lawrence Summer, December 15, 2013, Opinion. “Is it possible that the US and other major global economies might not return to full employment and strong growth without the help of unconventional policy support? The concern raised above rests on a number of considerations. First recovery has only kept up with population growth and normal productivity growth in the US, and has been worse elsewhere in the industrial world. Second, manifestly unsustainable bubbles, loosening of credit standards, along with very easy money, were sufficient to drive only moderate economic growth…” Link

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Improving World Healthcare

Improving World Healthcare. Lawrence Summers, December 4, 2014, Audio. “One of the world’s most influential economists, Larry Summers – former head of the World Bank, former US treasury secretary and one time economic adviser to President Obama – launches a new global health initiative that aims to save 10 million lives a year. He tells us how he believes standards of health in the developing world can brought in line with those of rich, industrial nations. He explains his take on the monumental flop that has marked the launch of Obama’s flagship healthcare reforms. He says President Obama has learned his lesson from the experience…” Link

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Larry Summers: Improving World Healthcare

Larry Summers: Improving World Healthcare. Lawrence Summers, December 3, 2013, Audio. “One of the world’s most influential economists, Larry Summers – former head of the World Bank, former U.S. treasury secretary and one time economic adviser to President Obama – launches a new global health initiative that aims to save 10 million lives a year. He tells us how he believes standards of health in the developing world can brought in line with those of rich, industrial nations…” Link verified August 21, 2014

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Global health 2035: a world converging within a generation

Global health 2035: a world converging within a generation. Lawrence Summers. December 3, 2013, Paper. “Prompted by the 20th anniversary of the 1993 World Development Report, a Lancet Commission revisited the case for investment in health and developed a new investment framework to achieve dramatic health gains by 2035. Our report has four key messages, each accompanied by opportunities for action by national governments of low-income and middle-income countries and by the international community…” Link

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Economic Possibilities for Our Children

Economic Possibilities for Our Children. Lawrence Summers, December 2013, Opinion. “This is the 40th anniversary of the summer when I first met Marty Feldstein and went to work for him. I learned from working under Marty’s auspices that empirical economics was a profoundly important thing, that it had the opportunity to illuminate the world in important ways, that it had the opportunity to change people’s perspectives as they thought about economic problems, and that the successful solution or resolution of economic problems didn’t happen with the immediacy with…” Link

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