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This paper argues that serious fiscal vulnerabilities arising from many years of high government debt will create new and complex interactions between public debt management and monetary policy.
The study concludes that two technical key assumptions need to hold for the standard micro portfolio approach to yield optimal (i.e. cost-minimising) results.We argue that these assumptions do not hold in the current borrowing environment characterized by fiscal dominance with complex links between public debt management and monetary policy.
The ISSA/IOPS/OECD Complementary and Private Pensions Database is available to the public in the ISSA's country profiles' section on the ISSA website.
Leading researchers, pension funds, endowment and sovereign wealth funds from across Europe, Asia and the Americas will come together to discuss asset allocation and diversification strategies, equity, emerging markets and infrastructure investments.
Discussions at this meeting focused on the global financial situation and regulatory reforms; capital flows; regional financial markets; financial education and consumer protection in Asia; and, regulation, supervision and risk management of Asian banks.
Taking place in Goa, India, this event addressed international issues and global trends relating to investor education, with a particular focus on investor education in Asia.
Europe's sovereign debt crisis has exposed structural weaknesses in economic governance that now threaten the entire euro region. Efforts to reinforce public finances and preserve the currency union must go further than solutions proposed to date.
This seminar focused on how to improve the monitoring of insurance markets through the provision of sound insurance statistics and indicators both in the Asia region and globally.
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This paper examines the policies that have been proposed to solve the financial and sovereign debt crisis in Europe, against the backdrop of what the real underlying problems are: extreme differences in competitiveness; the absence of a growth strategy; sovereign, household and corporate debt at high levels in the very countries that are least competitive; and banks that have become too large, driven by dangerous trends in ‘capital
Discussions at the 2012 forum focused on the changing global investor base for government securities, primary market operations and new interactions between public debt management and monetary policy under fiscal dominance.