The term “secular stagnation” was coined by Alvin Hansen before World War II.[1] Among the driving factors of the slowdown he predicted were limited population growth and lack of innovation. A decade or so later, we had the baby boom and one of the strongest economic expansion the world has ever experienced – in French, “Les Trente Glorieuses” started. This experience should certainly invite all of us to be prudent with the concept of “secular stagnation”. Let’s not forget that a similar panel ten years ago would have been discussing “the Great Moderation”. Over the past 10 years, euro area growth has been ... (full story)