Demographic factors are generally slow moving and predictable, and there is no surprise in the fact that slower population growth and the retirement of the baby boomers are now contributing to slower growth in the total amount of work performed in the economy. There is another factor contributing to the slower growth in hours, however, and this factor is more surprising and more troubling.
The CRA is basically a self-managed contingent reserve arrangement to forestall short-term balance of payments pressures, provide mutual support and further strengthen financial stability.