Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector

Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector

This paper explores the macroeconomic implications of financing for retirement in advanced economies. It offers an additional theoretical explanation of the possible long-term drivers of the 2007-2009 financial crisis. It develops a simple integrated macro-financial model of monetary production, and suggests that the increasingly systemically important retirement institutions present incentives not aligned with the macroeconomic needs of financing for retirement. It thus identifies demographic change and retirement finance as one of the underlying causes of build-up of intrinsic fragility in the financial sector.

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Bibliographic Details
Main Author: Piffaretti, Nadia F.
Format: Journal Article biblioteca
Language:EN
Published: 2010
Subjects:Business Fluctuations, Cycles E320, Financial Markets and the Macroeconomy E440, Financial Crises G010, Retirement, Retirement Policies J260,
Online Access:http://hdl.handle.net/10986/4843
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id dig-okr-109864843
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spelling dig-okr-1098648432021-04-23T14:02:19Z Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector Piffaretti, Nadia F. Business Fluctuations Cycles E320 Financial Markets and the Macroeconomy E440 Financial Crises G010 Retirement Retirement Policies J260 This paper explores the macroeconomic implications of financing for retirement in advanced economies. It offers an additional theoretical explanation of the possible long-term drivers of the 2007-2009 financial crisis. It develops a simple integrated macro-financial model of monetary production, and suggests that the increasingly systemically important retirement institutions present incentives not aligned with the macroeconomic needs of financing for retirement. It thus identifies demographic change and retirement finance as one of the underlying causes of build-up of intrinsic fragility in the financial sector. 2012-03-30T07:30:01Z 2012-03-30T07:30:01Z 2010 Journal Article European Journal of Economic and Social Systems 12928895 http://hdl.handle.net/10986/4843 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article
institution Banco Mundial
collection DSpace
country Estados Unidos
countrycode US
component Bibliográfico
access En linea
databasecode dig-okr
tag biblioteca
region America del Norte
libraryname Biblioteca del Banco Mundial
language EN
topic Business Fluctuations
Cycles E320
Financial Markets and the Macroeconomy E440
Financial Crises G010
Retirement
Retirement Policies J260
Business Fluctuations
Cycles E320
Financial Markets and the Macroeconomy E440
Financial Crises G010
Retirement
Retirement Policies J260
spellingShingle Business Fluctuations
Cycles E320
Financial Markets and the Macroeconomy E440
Financial Crises G010
Retirement
Retirement Policies J260
Business Fluctuations
Cycles E320
Financial Markets and the Macroeconomy E440
Financial Crises G010
Retirement
Retirement Policies J260
Piffaretti, Nadia F.
Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
description This paper explores the macroeconomic implications of financing for retirement in advanced economies. It offers an additional theoretical explanation of the possible long-term drivers of the 2007-2009 financial crisis. It develops a simple integrated macro-financial model of monetary production, and suggests that the increasingly systemically important retirement institutions present incentives not aligned with the macroeconomic needs of financing for retirement. It thus identifies demographic change and retirement finance as one of the underlying causes of build-up of intrinsic fragility in the financial sector.
format Journal Article
topic_facet Business Fluctuations
Cycles E320
Financial Markets and the Macroeconomy E440
Financial Crises G010
Retirement
Retirement Policies J260
author Piffaretti, Nadia F.
author_facet Piffaretti, Nadia F.
author_sort Piffaretti, Nadia F.
title Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
title_short Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
title_full Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
title_fullStr Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
title_full_unstemmed Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
title_sort financing for retirement and the 2007-2009 unwinding of the financial sector
publishDate 2010
url http://hdl.handle.net/10986/4843
work_keys_str_mv AT piffarettinadiaf financingforretirementandthe20072009unwindingofthefinancialsector
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