More recent empirical studies in this area suggest that the level of labour productivity of employees who are getting older is likely to remain largely the same. Although physical and cognitive capacities generally decrease with age, they are compensated for by growing professional and practical experience. As a result, the contrasting productivity effects are likely to more or less balance each other out.
However, even before the outbreak of the current financial market turmoil, some commentators have argued that, while securitisation certainly spreads existing risks, it may in fact encourage the creation of further risks, particularly by relaxing the incentives for banks to screen and monitor borrowers in order to alleviate the informational asymmetries associated with credit contracts.