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AP/Jose Luis Magana Federal Reserve officials have long been baffled by the absence of wage growth for median US workers despite a long-standing economic recovery that has sharply lowered unemployment to 3.9%. A new paper offers a convincing hypothesis for the Fed’s conundrum: underemployment and weak bargaining power for workers is more rampant than the […]
Angela Merkel could become the joint longest-serving modern German chancellor, according to the latest polls – that’s despite standing accused of “putting problems on the back burner” and lingering doubts that her new term may bring “stagnation” for Germany. With less than a month to go until the next German federal parliamentary elections, Merkel’s Christian […]
The cost of a typical three bed semi is now £211,301, the first time it has breached the £210,000 threshold. The hike, which comes a year after Britain’s vote to leave the EU, reversed three months of stagnation. It also saw the gap between the UK’s strongest and weakest-performing areas narrow to its smallest since […]
IN PERIODS of economic stress all sorts of theories are entertained about the nature of the problem. When better times return, some theories fade from memory. Others linger, however. During the economic mess of the past decade, economists frightened themselves with tales of “secular stagnation”: a nasty condition that dooms its victims to chronically weak […]
