There has been a slowdown in growth in the world's most advanced economies. In this paper we argue that changing demographics, in particular aging populations combined with increased life expectancy, may be part of the explanation for why we observe slower growth, falling interest rates and...

Since the early 1990's the growth rates of the four largest European economies—France, Germany, Italy, and the United Kingdom—have slowed. This persistent slowdown suggests a low-frequency structural change is at work. A combination of longer individual life expectancies and declining...

Since the early 1990's the growth rates of the four largest European economies--France, Germany, Italy, and the United Kingdom--have slowed. This persistent slowdown suggests a low-frequency structural change is at work. A combination of longer individual life expectancies and declining...

Since the early 1990's the growth rates of the four largest European economies — France, Germany, Italy, and the United Kingdom — have slowed. This persistent slowdown suggests a low-frequency structural change is at work. A combination of longer individual life expectancy and declining...