Pension funds and financial stability : the case of the UK gilt crisis

Jon Gudjonsson and Svend E. Hougaard Jensen

While macroprudential policy has mostly focused on the role of banks, we argue that pension funds are also important for financial stability. Drawing on previous research on pension funds, we explain how their actions can have a vital impact on other financial institutions as well as on households and firms. Using the UK gilt crisis as a case in point, we recommend widening the scope for macroprudential policy to reflect the significance of pension funds for financial stability.

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Year of publication:	2023
Authors:	Gudjonsson, Jon ; Hougaard Jensen, Svend Erik
Published in:	Intereconomics : review of European economic policy. - Warsaw, Poland : Sciendo, ISSN 1613-964X, ZDB-ID 2066476-X. - Vol. 58.2023, 3, p. 155-159
Subject:	Finanzsektor \| Financial sector \| Finanzsystem \| Financial system \| Stabilität \| Stability \| Pensionskasse \| Pension fund \| Finanzmarktaufsicht \| Financial supervision \| Großbritannien \| United Kingdom

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Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.2478/ie-2023-0032 [DOI] hdl:10419/275712 [Handle]
Classification:	G01 - Financial Crises ; G23 - Pension Funds; Other Private Financial Institutions ; G28 - Government Policy and Regulation
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014289788