Medium- and Long-Run Projections

Abstract

Interest in medium- and long-run projections is on the rise, for several reasons. One is related to growing concerns about the economic implications of population ageing in advanced economies but also in some major emerging economies. A second reason is associated with the ongoing rebalancing of global activity towards some large emerging economies with higher potential growth prospects, particularly in Asia. A third reason is that the financial crisis that began in 2007 highlighted that financial disruptions can have lasting effects on long-term economic performance.