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Making the Dutch Pension System Less Vulnerable to Financial Crises
Høj, Jens - 2011
pension funds’ assets fell below levels needed to meet regulatory requirements. Insufficient funding raises solvency issues …, which could eventually lead to large fiscal costs in case of bail-outs. In response to the crisis, most funds were required … by the regulator to draw up recovery plans to restore their funding over five years. This has raised concerns that the …
Persistent link: https://www.econbiz.de/10012446259
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Sustainable Withdrawal Rates During Retirement and the Risks of Financial Ruin
Alles, Lakshman - 2014
This paper describes the application of two different techniques for measuring sustainable withdrawal rates during retirement and the associated risks in running out of funds in the retirement savings pool. The first is a bootstrap simulation approach using recent Australian equity and bond...
Persistent link: https://www.econbiz.de/10013064924
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Averting the Multiemployer Pension Solvency Crisis
Blahous, Charles - 2019
joint select committee to develop multiemployer pension reforms. Primary causes of the crisis include lax funding rules and … of underfunded plans, improved incentives for plan trustees, stronger funding requirements, and risk-based premiums …
Persistent link: https://www.econbiz.de/10012871291
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Pension Schemes in the European Union : Challenges and Implications from Macroeconomic and Financial Stability Perspectives
Sánchez Serrano, Antonio; Peltonen, Tuomas - 2021
Persistent link: https://www.econbiz.de/10013248879
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Generational Accounting, Solidarity and Pension Losses
Teulings, Coen N.; de Vries, Casper G. - 2021
The creeping stock market collapse eroded the wealth of funded pension systems. This led to political tensions between generations due to the fuzzy definition of property rights on the pension funds wealth. We argue that this problem can best be resolved by the introduction of generational...
Persistent link: https://www.econbiz.de/10013319589
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Pension schemes in the European Union : challenges and implications from macroeconomic and financial stability perspectives
Sánchez Serrano, Antonio; Peltonen, Tuomo - 2020
Pension schemes have a significant influence on the saving and consumption decisions of households. Similarly, contributions to pension arrangements are substantial expenditures for national governments and also for corporations, depending on the prevailing pension system. Beyond this, pension...
Persistent link: https://www.econbiz.de/10012243471
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Generational Accounting, Solidarity and Pension Losses
Teulings, Coen N.; de Vries, Casper G. - 2004
The creeping stock market collapse eroded the wealth of funded pension systems. This led to political tensions between generations due to the fuzzy definition of property rights on the pension funds wealth. We argue that this problem can best be resolved by the introduction of generational...
Persistent link: https://www.econbiz.de/10014074188
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The effect of large investors on asset quality : evidence from subprime mortgage securities
Adelino, Manuel; Frame, W. Scott; Gerardi, Kristopher - 2014
This paper examines how the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, the largest investors in subprime private-label mortgage-backed securities (PLS), influenced the risk characteristics and prices of the deals in which they participated. To identify the causal effect...
Persistent link: https://www.econbiz.de/10010337605
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Currency Hedging Strategies, Strategic Benchmarks and the Global and Euro Sovereign Financial Crises
Caporin, Massimiliano - 2013
This paper investigates dynamic currency hedging benefits, with a further focus on the impact of currency hedging before and during the recent financial crises originated from the subprime and the Euro sovereign bonds. We take the point of view of a Euro-based institutional investor who...
Persistent link: https://www.econbiz.de/10013074792
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Models of financial stability and their application in stress tests
Aymanns, Christoph; Farmer, J. Doyne; Kleinnijenhuis, … - 2017
systemic risk, including models for the three main channels of contagion: counterparty loss, overlapping portfolios and funding …
Persistent link: https://www.econbiz.de/10011906282