“Schumpeter meets Keynes again” : An OECD-IMF-BIS Conference on Financial Factors slowing down productivity

On the 10th and 11th of January, the OECD joined up with the IMF and the BIS to organise a conference discussing the role of financial policies in explaining the trend of productivity slowing down across the global economy. Several technical research papers, covering different datasets, countries and approaches were presented, expressing either a “Schumpeterian” view ( a crisis should ‘cleanse’ the economy) or a more “Keynesian” view (use very aggressive demand policy to overcome a balance sheet recession). Read more in the attached summary.