Wednesday, April 01, 2015

Liquidity Traps, Local and Global (Somewhat Wonkish) - NYTimes.com

Liquidity Traps, Local and Global (Somewhat Wonkish) - NYTimes.com:



 "There’s been a really interesting back and forth between Ben Bernanke and Larry Summers over secular stagnation. I agree with most of what both have to say. But there’s a substantive difference in views, in which Bernanke correctly, I’d argue, criticizes Summers for insufficient attention to international capital flows – but then argues that once you do allow for international capital movement it obviates many of the secular stagnation concerns, which I believe is wrong."



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