“In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all. Since then they have occurred more often, and 2008 was the most damaging of them all to date. If we have moved back to a regime of regular financial crises - like the one we had from the 1870s to the 1930s - then our economic future will be very different from our recent past.” IfsDifferentCountryHappensPastEconomicEventsCrisisMovedFinancialErasRegimes1930sFinancial CrisisRecent PastRare Events Author:Alan M. Taylor
“Macroeconomic stability will be more elusive and that will affect all of our lives: from the risks many will face in childhood, to the security of employment at working age, to the challenge of accumulating for retirement. More financial instability will introduce more uncertainty all down the line, and that will be a very different world than the one we would have lived in only a couple of decades ago.” WorldDifferentAgeFacesChallengesLinesOur LivesRiskChildhoodSecurityCoupleFinancialDecadesEmploymentUncertaintyRetirementStabilityIntroducingElusiveDifferent WorldsInstabilityMacroeconomics Author:Alan M. Taylor