The book gives an overview of the implications of population ageing for economic development in general and financial systems in particular. It describes several challenges which the ageing process poses for central banks, giving special consideration to the situation in Europe. The first two...

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the...