By Juan Medina, Michael Pedersen & Gerardo Reyes Emerging economies face long-run fiscal sustainability challenges associated with demographic change and the productive capacity of commodity sectors. Population aging can weaken labor supply growth, constrain tax bases, and increase age-related public expenditures, while declining productivity in non-renewable sectors may further limit fiscal capacity and economic growth. […]

By Aleksandar Andonov, Kristy Jansen & Joshua D. Rauh Long-maturity Treasury issuance reduces government rollover risk but depends on investors with structural demand for duration. We examine whether U.S. public pension funds, a $7 trillion sector, provide such demand, as is often presumed given their liabilities. Using security-level holdings, we show that Treasuries account for […]

Por Walter Guevara Household surveys that ask about private transfers rarely separate support sent from abroad from the broader category of economic support a household may receive. Mexico’s National Survey of Occupation and Employment (ENOE) contains both items. This note documents that the two move in opposite directions over 2008-2026, and that the difference is […]

Older Americans make up an ever-larger share of the workforce, a trend that dates to the 1990s. Over the past few years, however, the employment rate among older Americans has been falling. Or “collapsing,” as one report puts it. The share of Americans ages 55 and over participating in the labor force dropped from 39.2% […]

Britain’s largest workplace pension scheme Nest has moved its entire £3.5 billion ($4.6 billion) in emerging ​market equities to US active manager Wellington Management, ending a focus on index investing to better manage sustainability risks, ‌an executive told Reuters. Nest, the £68 billion scheme into which more than 14 million workers are automatically enrolled, had […]

India spent decades worrying about having too many people. But the economic challenge now emerging is almost the opposite. Fewer Indians are being born, fertility has fallen below the replacement level, and the country’s age structure is starting to change, according to the latest Moody’s report. The result will not be visible overnight. But over […]

Figures contained in the bank’s annual reports and audited financial statements show that personnel costs increased from GH¢1.62 billion in 2022 to GH¢3.29 billion in 2025, representing growth of about 103 per cent. By comparison, reported staff strength rose from 2,206 to 2,691 during the same period, an increase of approximately 22 per cent. The […]