“Peanuts” comic-strip creator Charles Schulz quipped that once you’re over the hill, you begin to pick up speed. He clearly wasn’t talking about the global economy.
Developed countries are aging, and a growing body of research suggests that demographic headwinds are reining in potential growth and curbing how high interest rates can rise. That’s causing a massive rethink at central banks, who may find themselves with little room to cut rates and boost growth during the next recession.
Papers that dig into big structural changes in the global economy, from the demographically-induced slowdown to slumping productivity, are the focus of this edition of our economic research wrap. Check this roundup every week for the latest on interesting and influential economic research from around the world.
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