AGEING AND FINANCIAL STABILITY - ephilipdavis.com.pptVIP

AGEING AND FINANCIAL STABILITY E Philip Davis NIESR and Brunel University West London e_philip_davis@ /group/financial_stability Introduction Focus on pitfalls for financial stability arising from ageing Draw on extant theoretical and empirical work on these two areas Focus is on “systemic risk” leading to heightened risk of a financial crisis, impairing provision of payments services and credit allocation Link to retirement income security for individuals Structure Indicators of financial instability The ageing problem Consequences of ageing for the macroeconomy and pension systems Financia