New policies for mandatory defined contribution pensions: industrial organization models and investment products
In: Latin American development forum series
20 Ergebnisse
Sortierung:
In: Latin American development forum series
In: Policy research working paper 3208
In: Policy research working paper 2948
In: Policy research working paper 2751
This paper argues that contractual savings (assets of pension funds and life insurance companies) contribute to the improvemnet of banks' efficiency, credit, and liquidity risk. The authors use bank level panel data across countries to assess the impact of contractual savings on bank efficiency and lending behavior. They concentrate on profitability measures and on transformation and credit risk indicators
In: IMF Working Paper No. 18/134
SSRN
In: IMF Working Papers, S. 1-70
SSRN
In: IMF Working Papers, S. 1-68
SSRN
In: PENSION FUND GOVERNANCE: A GLOBAL PERSPECTIVE ON FINANCIAL REGULATION, John Piggott, Michael Orszag, John Evanns, eds., Edward Elgar Publishing, Forthcoming
SSRN
In: Annals of public and cooperative economics, Band 69, Heft 2, S. 243-260
ISSN: 1467-8292
I develop a model of credit rationing with effort unobservable by lenders where borrowers can choose among projects of different riskiness. In such a set‐up rationing that can be relaxed if borrowers put up physical collateral arises. Group lending proves to be a possible means to relax rationing and improve efficiency when physical collateral is not available. The optimal size of groups is here analysed as a function of social factors. It turns out that groups can be neither too small nor too large because in both cases the effectiveness of social sanctions on behaviour is too low to offset the negative effect on effort due to profit sharing and free riding. Individual sensitivity to social sanctions is the crucial element determining whether groups can be formed or not.
In: IMF Working Papers, S. 1-56
SSRN
In: IMF working paper WP/13/148
In: IMF Working Papers v.Working Paper No. 13/148
CESEE banks are reducing foreign funding sources in response to reduced external imbalances, reduced ability to tap international savings, banking group own strategies, initiatives by some regulators, and consistently with uncertainties surrounding the future of the banking union project. In the medium term, the global regulatory agenda and the high foreign presence and stock of FX loans exert opposite forces on rebalancing trends. In the long-term, any funding "new normal" will be determined by the future design of the EU financial architecture. In the meantime, limiting leverage, the use of FX loans and promoting aggregate saving through macro policies and capital market reforms will increase resilience against shocks going forward.
In: Chapter 2 of Working Group on NPLs in Central, Eastern and Southeastern Europe, March 2012
SSRN
In: IMF Working Papers v.Working Paper No. 09/246
In: IMF working paper WP/09/246
The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards
In: IMF Working Paper No. 20/34
SSRN
Working paper