Replication data for: A Model of Secular Stagnation: Theory and Quantitative Evaluation

Gauti B. Eggertsson, Neil R. Mehrotra & Jacob A. Robbins
This paper formalizes and quantifies the secular stagnation hypothesis, defined as a persistently low or negative natural rate of interest leading to a chronically binding zero lower bound (ZLB). Output-inflation dynamics and policy prescriptions are fundamentally different from those in the standard New Keynesian framework. Using a 56-period quantitative life cycle model, a standard calibration to US data delivers a natural rate ranging from −1.5% to −2%, implying an elevated risk of ZLB episodes for...
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