Contents of the volume

2021, Volume 74 - Issue 2

ISSN: 2499-8265
RSS feed citation: At RePEc
Publication date: 24 May 2021


Abdol B. Soofi

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Talknice Saungweme, Nicholas M. Odhiambo

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Romano PIRAS, Ivan Etzo, Carla Massidda, Paolo Mattana

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Paul Oslington

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Matti Viren, Sami Oinonen

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Genoa Chamber of Commerce
Economia Internazionale / International Economics

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Corresponding author

Nicola ACOCELLA, University La Sapienza, Department of Public Economics, Rome, Italy





The recent period of low income growth can be explained as the outcome either of a reduction in the indebtedness accumulated over the years of the crisis (i.e. of a financial cycle) or of secular stagnation, deriving from long run tendencies, the Great Recession, growing inequalities, institutional factors and globalization. This kind of situation requires a number of policies, including expansionary monetary policies, raising retirement age and limiting the oligopolistic power of big firms.



JEL classification

E3, E52, F02, L13, O40


Financial Cycle, Secular Stagnation, Inequality, Great Recession, Oligopolistic Power, Globalisation


  1. Introduction
  2. Growth before and after the crisis in the European Union and abroad
  3. The general determinants of stagnation
  4. The impact of the Great Recession, growing inequalities, globalisation and institutions
  5. Policies that can help fight secular stagnation
  6. Conclusions


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