POPULATION SHIFTS

Older and Smaller

Benedict Clements, Kamil Dybczak, and Mauricio Soto

Benedict Clements

The fiscal consequences of shrinking and aging populations threaten advanced and emerging market economies alike

She Is the Answer

Yuko Kinoshita and Kalpana Kochhar

Yuko Kinoshita and Kalpana Kochhar

Women can help offset the problems of an aging population and a shrinking workforce


Women-owned businesses

Women in the workforce

Age and Inflation

Mikael Juselius and Elöd Takáts

Age and Inflations

Baby boomers drove down inflation when they joined the workforce and will drive it up as they retire

Surf the Demographic Wave

Vimal Thakoor and John Wakeman-Linn

Students at University of Botswana, Gaborone, Botswana.

Sub-Saharan Africa could reap significant benefits from its growing population—if the transition is well managed

Also in This Issue

El Niño: Good Boy or Bad?

Paul Cashin, Kamiar Mohaddes, and Mehdi Raissi

Paul Cashin, Kamiar Mohaddes, and Mehdi Raissi

El Niño has important effects on the world’s economies—and they are not all bad

$30 a Barrel

Masood Ahmed

Oil exporters in the Middle East and North Africa
must adjust to low oil prices.

Lower oil prices

A Move South

Rabah Arezki, Frederick van der Ploeg, and Frederik Toscani

A growing number of large resource finds are in the developing world, reflecting growing openness in their economies

The Signal and the Noise

The Signal and the Noise

Duvvuri Subbarao

Reflections on communication by a former Reserve Bank of India governor

Opening Up to Inequity

Davide Furceri and Prakash Loungani

After countries remove restrictions on capital flows, inequality often gets worse

Inequality’s toll on growth

Low Skills Low Wages

Trade Turbulence

Trade Turbulence

Cristina Constantinescu, Aaditya Mattoo, and Michele Ruta

China’s transition to a new growth path is contributing to trade volatility today and will shape trade opportunities tomorrow

Chinese entrepreneurs in Africa

The Truth about Banks

Michael Kumhof and Zoltán Jakab

Banks create new money when they lend, which can trigger and amplify financial cycles

To Plug the Gaps

Evrim Bese Goksu and Robert Heath

The postcrisis effort to identify and address missing information about the global economy heads into its second phase

From the Editor

Population Pressures

Say “population growth” and many people immediately think of resources under stress. ­

Currency Notes

Bowie Bucks

Currency

Marina Primorac

Municipalities and neighborhood organizations establish local currencies to invigorate their communities

Book Reviews

Global Inequality: A New Approach for the Age of Globalization, Branko Milanovic

What Works: Gender Equality by Design, Iris Bohnet