*  *  Introduction: beyond standard macroeconomics  Having experienced prolonged stagnation after the global financial crisis of 2008, economists, market participants, and policymakers alike have arrived at the painful recognition that per capita real output has a long path toward recovering its pre-crisis level.
BIS central bankers’ speeches  1  We will also hear from financial service providers on how they have identified and segmented their markets, and share with us what has worked and what needs improving. Real partners that not only provide the system, but also can create the demand for it, are essential to bring down transaction costs for everyone, and especially the poor.