Demographic and fiscal pressures have increased pressures on governments in most wealthy countries to reduce the generosity of their public pension programs. Mechanisms that automatically adjust public pension levels to take account of factors such as increased life expectancy and slower...

This paper reconsiders the role of monetary policy in Sweden's strong recovery from the Great Depression. The Riksbank in the 1930s is sometimes seen as an example of a central bank that was relatively innovative in terms of the conduct of monetary policy. To consider this analytically, we...