•  Clients rated themselves as only “somewhat satisfied” with how issues were resolved in most financial service access points. The survey results tell us we have a long way to go to achieve financial inclusion. The survey also tells us that there are plenty of opportunities for those looking to expand their business or to introduce game-changing innovations.
While this phenomenon is a stylized fact, its implications for the propagation and persistence of aggregate shocks have only been studied quite recently. Moreover, the impact of recessions induced by financial rather than real shocks is still comparatively underexplored. Today’s presentations will also cover these important issues, which have clear implications for policies to stabilize the business cycle.