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This is the best tl;dr I could make, original reduced by 95%. (I'm a bot)
The Wicksellian equilibrium is the familiar one in a model of an inflation-targeting central bank - inflation is at target, there is involuntary unemployment at the equilibrium of the labour market, and the real interest rate is positive and at its 'neutral', or 'Wicksellian', level.
Productivity stagnates because of strategic complementarity in which investment is 'trapped' at a low level in the Keynesian equilibrium, and together with a model of precautionary saving accounts for persistent low aggregate demand.
Since productivity growth is embedded in new investment, a move to a low investment equilibrium is a likely explanation for a period of very low productivity growth.