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Ireland is recovering from an extremely large banking crisis born of over-exuberant property lending. The government has taken a wide range of measures to tackle the crisis over the past 3 years.
Policy actions proposed in this paper are based on initial OECD research undertaken and are intended to generate debate and discussion. Further research is planned on these topics within the framework of the project on institutional investors and long term investment. OECD Working Papers on Finance, Insurance and Private Pensions, No.13.
In the wake of the 2010 earthquake, this paper considers policy options for expanding the proportion of future Chilean earthquake losses that would be covered via new and expanded risk transfer mechanisms.
Mismatches between the supply and the demand of safe financial assets in fast-growing emerging countries have been singled out by economic theory as drivers of international capital flows and, ultimately, global current account imbalances.
This paper examines whether the composition of a country’s external liabilities and assets has an incidence on its risk of suffering financial turmoil.
This paper seeks to identify factors explaining the appreciation of the Brazilian real observed since 2003, which was temporarily interrupted only during episodes of financial turbulence.
This paper identifies refinements to the macroeconomic framework that will help Brazil to achieve strong performance in a new environment.
This report analyses the possible implications for public debt management practices arising from regulatory changes for over the counter derivatives (OTCD) that are being developed worldwide to strengthen the resiliency of the financial system. Many OECD sovereigns use OTCD in their debt management activities (mainly interest rate swaps and cross-currency swaps).
This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee claims are calculated as a financial derivative in a financial market framework (like e.g. the valuation of a put option). In this context, the
The paper argues that judgements play an important role in determining appropriate trade-offs when making issuance choices. The result of the determination of cost and risk factors and judgements about trade-offs is usually a relatively balanced issuance split across the maturity spectrum, along both the nominal and real yield curves.