medium-term

Publication date: 2 Aug 2017 | Publication type: National Institute Economic Review | Theme: Macroeconomics | External authors: Aksoy, Y, Basso, H S, Smith, R P | JEL classification: E32, J11 | Journal: National Institute Economic Review Issue 241 | Publisher: Sage Publications, London
While there may be an important, but transitory, cyclical component in the poor performance of the past decade, we will emphasise the secular forces: the impact of demographic structure and innovation. We draw on the empirical and theoretical work reported in Aksoy, Basso, Smith and Grasl (2015),...