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certainly nowhere near the levels predicted by theory. In addition, only industrial countries have attained better risk sharing …In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different …
Persistent link: https://www.econbiz.de/10005263747
Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...
Persistent link: https://www.econbiz.de/10011245903
How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...
Persistent link: https://www.econbiz.de/10005590924
Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial …
Persistent link: https://www.econbiz.de/10005605415
longevity of the Dutch population. The transparency and risk-sensitive framework of pension funds regulation has brought the …
Persistent link: https://www.econbiz.de/10011244315
This report discusses key findings of the Financial Sector Stability Assessment on Canada. Canada’s financial system successfully navigated the global financial crisis, and stress tests suggest that major financial institutions would continue to be resilient to credit, liquidity, and...
Persistent link: https://www.econbiz.de/10011244761
This paper analyzes the performance of the Bulgarian private defined contribution pensions in the second and third pillars of the pension system.
Persistent link: https://www.econbiz.de/10005263896
consequences for cost of capital, funding patterns, interconnectedness, and risk migration. …
Persistent link: https://www.econbiz.de/10009203537
effects on technological progress and welfare, which depend critically on the risk sharing capacity of the economy's financial … system. For example, we show that with efficient risk sharing more precise information adversely affects the equilibrium risk …
Persistent link: https://www.econbiz.de/10005825975
, this paper argues that macro-prudential regulation is necessary to address the systemic risk inherent to ratings. The paper … and increased illiquidity. The paper suggests the use of "ratings maps" and stress-tests to assess the systemic risk of … ratings, and increased capital or liquidity buffers to manage such risk. …
Persistent link: https://www.econbiz.de/10008528614