We provide a critique of the methods that have been used to derive measures ofincome risk and draw attention to the importance of demographic factors as asource of income risk. We also propose new measures of the contribution tototal income risk of demographic and labour market factors....

The global financial crisis that began in mid-2007 has renewedconcerns about financial instability and focused attention onthe fundamental role of central banks in preventing andmanaging systemic crises. In response to the turmoil, centralbanks have made extensive use of both new and existing...

In this paper, we assess the effects of changes to the primarycredit facility since August 2007 by performing out-of-samplesimulations based on a model developed by Artuç andDemiralp (2008). Our results are highly consistent with thepredictions of our 2008 study—that is, the revised...