Presentation is loading. Please wait.

Presentation is loading. Please wait.

Secular Stagnation: A Different Perspective Lukas Kovanda, Ph.D., Chief Economist, Roklen Fin.

Similar presentations


Presentation on theme: "Secular Stagnation: A Different Perspective Lukas Kovanda, Ph.D., Chief Economist, Roklen Fin."— Presentation transcript:

1 Secular Stagnation: A Different Perspective Lukas Kovanda, Ph.D., Chief Economist, Roklen Fin

2 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 2 From a log-term perspective there simply is no stagnation, just a bit slower rate of growth. “Stagnation“? Really...? The term stagnation is a bit exaggerated

3 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 3 “Stagnation“? Really...? The term stagnation is a bit exaggerated Source: Piketty, Thomas: Capital in the Twenty-First Century, 2014

4 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 4 Or, if you wish, from an even longer perspective… “Stagnation“? Really...? The term stagnation is a bit exaggerated

5 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 5 “Stagnation“? Really...? The term stagnation is a bit exaggerated Source: Bostrom, Nick: Superintelligence: Paths, Dangers, Strategies, 2014

6 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 6 Secular stagnation – interest rates at the zero lower bound. Why? Why zero lower bound? Interest rates at the zero lower bound

7 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 7 Why zero lower bound? Interest rates at the zero lower bound Source: World Economic Outlook, IMF, April 2014

8 Lukas Kovanda, Ph.D., Roklen Fin: Secular Stagnation: A Different Perspective, Free Market Roadshow 2015, Prague, 16/4 8 Straightforward solution the to so called secular stagnation problem: Reducing the involvement of public institutions in the global capital markets. What now? Straightforward solution

9 Thank you!


Download ppt "Secular Stagnation: A Different Perspective Lukas Kovanda, Ph.D., Chief Economist, Roklen Fin."

Similar presentations


Ads by Google