Secular stagnation and COVID-19

• Authors: Stradomski Maciej , Schmidt Katarzyna

Title variants

PL

Stagnacja sekularna a Covid-19

• Languages of publication: EN

Abstracts

EN

The main aim of the article is to start a discussion about the pandemic COVID-19 in the context of secular stagnation. The secular stagnation phenomenon was reintroduced by L. Summers in 2013, who claimed that after the global financial crisis of 2007-2009, advanced economies were trapped in an era of low and sluggish growth and a low-interest rates environment. Now, with the occurrence of coronavirus many things have changed, therefore the authors tried to analyse the structural determinants of secular stagnation and the potential impact of the crisis on these factors. The authors concluded that the coronavirus crisis might be a breaking point that will change the global economy but the character and novelty of the crisis make it difficult to predict future outcomes.

PL

Głównym celem artykułu jest rozpoczęcie dyskuji o pandemii COVID-19 w kontekście zjawiska stagnacji sekularnej. Stagnacja sekularna została przywołana przez Lawrence’a Summersa w 2013 roku. Summers stwierdził bowiem, że po globalnym krachu finansowym lat 2007-2009 gospodarki zostały uwięzione w erze mozolnego i niskiego wzrostu gospodarczego oraz w środowisku niskich stóp procentowych. Obecnie, kiedy koronawirus zaatakował społeczeństwa, wiele sytuacji, procesów czy działań uległo zmianie, dlatego autorzy próbują przeanalizować potencjalny wpływ pandemii koronawirusa na czynniki strukturalne, które uznawane są za źródła stagnacji sekularnej. Autorzy stwierdzili, że pandemia może być wydarzeniem zwrotnym, które zmieni globalną ekonomię, ale charakter kryzysu sprawia, iż bardzo trudno przewidzieć ostateczne efekty.

Keywords

EN

secular stagnation; crisis; pandemic; COVID-19

PL

stagnacja sekularna; kryzys; pandemia; COVID-19

• Publisher: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
• Journal: Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
• Year: 2020
• Issue: vol. 64, nr 4
• Pages: 199-212

Contributors

author

Stradomski Maciej

author

Schmidt Katarzyna

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