The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of financial markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ...

Changes in population age structure matter for public finances because the beneficiaries of public programs are primarily children and the elderly. This paper projects government spending on education, health care, and social protection in developing Asia up to 2050 using the National Transfer...

The Bank of England has developed a risk-based methodology to support its oversight of payment systems. The methodology provides more precise estimates of risks in payment systems than previously available. Because it is consistent and systematic in its application, the methodology assists the...