Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Contributors to this volume use an innovative framework to analyze financial crises and the conditions that lead to them. The authors examine episodes of breakdown in financial trade, where 'trade' refers to the way in which financial contracts, institutions, and markets allocate risk, channel funds from ultimate savers to ultimate investors in the economy, and provide information about and incentives for borrowers' performance.
The promise of "healthy aging" offers significant opportunities for economic growth and development for Europe in the decades ahead--if governments and citizens are willing to grasp them.
