Ageing and financial stability

ARTICLE - Population ageing might involve major shifts in financing, which may give rise to financial turbulence and systemic risk. Philip Davis, professor of economics at Brunel University, has prepared a paper on this subject for a Bundesbank conference on "Ageing, financial markets and monetary policy" held in Frankfurt, 4-5 May 2001.


"Although the precise details are subject to major uncertainty, it seems likely that the process of population ageing will involve major shif