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Donor Herding and Domestic Debt Crisis.
Chirwa, Ephraim W - 2006
Persistent link: https://www.econbiz.de/10012691195
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Herd Behavior in Financial Markets
Cipriani, Marco - 2008
, one in which the price adjusts to the order flow so that herding should never occur, and one in which event uncertainty … makes herding possible. In the first treatment, subjects herd seldom, in accordance with both the theory and previous … by the theory. In the second treatment, the proportion of herding decisions increases, but not as much as theor …
Persistent link: https://www.econbiz.de/10012677606
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Herd Behavior in Financial Markets : An Experiment with Financial Market Professionals
Cipriani, Marco - 2008
, one in which the price adjusts to the order flow so that herding should never occur, and one in which event uncertainty … makes herding possible. In the first treatment, subjects herd seldom, in accordance with both the theory and previous … by the theory. In the second treatment, the proportion of herding decisions increases, but not as much as theory suggests …
Persistent link: https://www.econbiz.de/10014409034
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Pension Reform and Macroeconomic Stability in Latin America
Roldos, Jorge - International Monetary Fund (IMF) - 2007
This paper reviews macroeconomic aspects of pension reforms in Latin America, focusing on financial market stability and fiscal sustainability. Concentration of pension fund portfolios in government bonds remains high, and the lack of new investment alternatives has distorted asset prices....
Persistent link: https://www.econbiz.de/10005248326
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Efficiency and Performance of Bulgarian Private Pensions
Impavido, Gregorio - International Monetary Fund (IMF) - 2008
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
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Insurance Companies in Emerging Markets
Kong, Janet; Singh, Manmohan - International Monetary Fund (IMF) - 2005
This paper focuses on asset allocation decisions of life insurance companies in emerging markets. Mature market insurers allocate only a small fraction of their assets to emerging markets because of regulatory constraints, rating pressures, and currency risk. However, global insurers invest...
Persistent link: https://www.econbiz.de/10005825993
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How the Financial Crisis Affects Pensions and Insurance and Why the Impacts Matter
Tower, Ian; Impavido, Gregorio - International Monetary Fund (IMF) - 2009
This paper discusses the key sources of vulnerabilities for pension plans and insurance companies in light of the global financial crisis of 2008. It also discusses how these institutional investors transit shocks to the rest of the financial sector and economy. The crisis has re-ignited the...
Persistent link: https://www.econbiz.de/10008528682
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Regulatory Lessons From the Crisis of Costa Rica's Mutual Fund Industry
Carvajal, Ana - International Monetary Fund (IMF) - 2006
In 2004, the mutual fund industry of Costa Rica experienced a massive run by investors that reduced the industry to half its size in a month. This paper explores how weaknesses in the regulatory framework played a role in the crisis and draws lessons for developing countries. The analysis of...
Persistent link: https://www.econbiz.de/10005599564
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Pension Funds and Emerging Markets
Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2004
This paper focuses on the investment behavior of pension funds in developed and emerging market countries. First, it analyzes the main determinants of the emerging market asset allocation of pension funds in developed countries. Second, it assesses how pension funds in emerging markets have...
Persistent link: https://www.econbiz.de/10005605118
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Market Discipline and Conflicts of Interest Between Banks and Pension Funds
Barajas, Adolfo; Catalán, Mario - International Monetary Fund (IMF) - 2011
We study the behavior of private pension funds as large depositors in a banking system. Using panel data analysis, we examine whether, and if so how, pension funds influence market discipline in Argentina in the period 1998-2001. We find evidence that pension funds exert market discipline and...
Persistent link: https://www.econbiz.de/10009370562