Calcium Stagnation Research Paper

Growing Ideas on Secular Stagnation

The Inspiration

When discussing my future field, economics, my parents usually tell me about the latest news story they’ve heard about the economy. One day as I came home from school--projecting an I’m-about-to-take-a-nap mood--my mom attempted to strike up one of these conversations, “Today, on one of the morning shows, I saw this economist who explained the GDP really well.” I muttered my go-to phrase to dodge a conversation, “Great [sustaining the “gr” sound].” My mom persisted, however, asking me why G.D.P. has been low lately. Retiring to my nap hub, a brown suede sofa in my family room, I dismissed the question with a surprisingly involved response, “There’s a lot of theories out there for why G.D.P.

As concluded in Appendix A.II, new ideas are the sole source of long-run growth in a nation’s standard of living. Qualitatively, this should make intuitive sense, given our world history. In the Middle Ages, there was population growth and innovation in weaponry, but people lived in the same condition generation after generation. It took the flourishing of new ideas brought out by the Renaissance to bring us the beginning of us enjoying more amenities through successive generations.
One source, although not necessarily the only one, can be estimated from this equation to answer our current question: how can more aging in a country lead to higher growth? The two constants and (1-)respectively represent the degrees to which a nation’s amount of researchers and the current amount of ideas contribute to the growth in new ideas. Across advanced nations, however, these two constants are probably homogenous because given how interconnected our world is, it’s hard to see how an advancement in such constants wouldn’t eventually be enjoyed by other nations. Thus, the one term, from which we predict a source from our model, is the growth rate in a nation’s amount of researchers, Lat'Lat. Given that At'At is ultimately the long-run growth rate for a nation, if growth rates across nations are different, as in Acemoğlu and Restrepo (2017), they must differ in their Lat'Latterm. Thus, such higher growth rates for aging nations, using our model, is due to a higher growth rate in researchers. A greater increase in researchers is probably induced by the need for technology amid the shrinking of a nation’s labor