Secular Stagnation: A Supply-Side View
从供给侧分析美国潜在GDP增速长期放缓至1.6%的原因，指出数字革命带来的生产率提升在1990年代末达到顶峰后已趋于递减。
Secular stagnation on the supply side takes the form of a slow 1.6 percent annual growth rate of US potential real GDP, roughly half the 3.1 percent annual growth rate of actual real GDP realized from 1972 to 2004. This slowdown stems from a sharp decline in the growth rate of aggregate hours of work and of output per hour. This paper attributes the productivity growth decline to diminishing returns in the digital revolution that had its peak effect business hardware, software, and best practices in the late 1990s but has resulted in little change in those methods over the past decade.