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Borrow Now and Tax Later to Save Young Jobs, ECB Study Shows Dec 22 2020, 3:47 PM December 21 2020, 4:57 PM December 22 2020, 3:47 PM (Bloomberg) Young people are hit more than twice as hard as older generations by deep recessions, so governments should borrow as much as needed to save their jobs, according to a study published by the European Central Bank. (Bloomberg) Young people are hit more than twice as hard as older generations by deep recessions, so governments should borrow as much as needed to save their jobs, according to a study published by the European Central Bank. The paper shows that economic downturns tend to reverberate most strongly through different channels for different age groups. Younger households are more reliant on work to earn an income against which they can borrow. Older generations are more likely to have financial assets. ....