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This special issue of Financial Market Trends compiles selected articles based on presentations given at the Symposium on “Financial crisis management and the use of government guarantees” in October 2011, which were first released between October and December 2011. The Symposium, part of the OECD’s work on financial sector guarantees, gathered policy makers, policy consultants and other academics to discuss the policy response to the
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The incidence of perceived implicit guarantees, mostly from governments, for the debt of European banks has decreased recently after several years of increase dating from the beginning of the financial crisis. This reflects to a large extent the deterioration in the strength of the sovereigns that are seen as providing the guarantees..
This book examines pension reform during the crisis and beyond, the design of automatic adjustment mechanisms, reversals of systemic pension reforms in Central and Eastern Europe, coverage of private pension systems and guarantees in defined contribution pension systems.
This project explores how the structure of international capital flows drives financial fragility, and examines how policies can help increase financial stability.
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Despite massive support from governments and widespread regulatory changes since the crisis struck, banks are deleveraging in the worst possible way impeding economic recovery. Capital levels are too low (particularly in Europe), business models are too risky, and the approach to regulation is biased against lending to the private sector. A lack of trust makes private sector equity investment and funding problematic, and losses and
How to design appropriate policies to strengthen growth and make it inclusive and sustainable over time? The policy issues highlighted in this volume - financial development,social policies, innovation, regulation and political economy issues - are relevant to all countries.
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This report analyses the management of investment risk in the Chilean pension system, focusing on various risk measures that can be applied in a defined contribution context. The report also reviews Chilean regulations regarding risk management in the context of international best practices.
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This presentation provides a selective update of the 2010 report on "Systemic Financial Crises: How to fund resolution".
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A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment.
Going for Growth 2012 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2011 edition.