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Business and Economics > Finance: General

You are looking at 1 - 10 of 11 items for :

  • Type: Journal Issue x
  • Retirement; Retirement Policies x
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Cover Technical Assistance Reports
Kingdom of Eswatini: Technical Assistance Report-Financial Sector Stability Review
International Monetary Fund. Monetary and Capital Markets Department
and
International Monetary Fund. Statistics Dept.
The IMF conducted a diagnostic review of the financial system of the Kingdom of Eswatini and proposed a Technical Assistance Roadmap to support the authorities’ detection of risks and vulnerabilities and to enhance capacity in financial sector oversight. The financial stability module focused on areas agreed with the country authorities: financial stability and systemic risk monitoring, macroprudential frameworks and tools; crisis management and financial safety net; and supervision and regulation of banks, nonbank deposit-taking institutions, insurance, and retirement funds. The financial sector statistics module focused on key gaps in monetary and financial statistics and financial soundness indicators that hamper financial stability analysis.
Keywords:
Kingdom of Eswatini; Eswatini; CBE; FSRA; FSSR; financial stability; systemic risk; macroprudential frameworks; stress testing; crisis management; financial safety net; banking supervision and regulation; nonbanking supervision and regulation; deposit-taking institutions; insurance; and retirement funds.; IMF MCM; IMF Financial Sector Stability Review; IMF's MCM department; CBE governor; financial institutions Act; Eswatini building societies; Financial sector stability; Nonbank financial institutions; Retirement; Insurance companies; Africa; Southern Africa; East Africa
Cover IMF Staff Country Reports
Switzerland: Selected Issues
International Monetary Fund. European Dept.
Selected Issues
Keywords:
D. policy implication; policies equity; liquidity gap; liquidity shortfall; solvency risk; Housing prices; Foreign assets; Pension spending; Retirement; Global financial crisis of 2008-2009; Global; Europe
Cover The Challenge of Public Pension Reform in Advanced and Emerging Economies
The Challenge of Public Pension Reform in Advanced and Emerging Economies
Mr. Benedict J. Clements
,
Mr. David Coady
,
Frank Eich
,
Mr. Sanjeev Gupta
,
Mr. Alvar Kangur
,
Baoping Shang
, and
Mauricio Soto

Abstract

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Keywords:
OP; pension; emerging market economy; retirement age; economy; IMF staff estimate
Cover IMF Staff Country Reports
Republic of Slovenia: Selected Issues Paper
International Monetary Fund. European Dept.
This Selected Issues paper examines social spending reform and fiscal savings in Slovenia. Rising expenditure has been at the root of Slovenia’s fiscal deterioration since the onset of the crisis. The paper explores reform options to reduce Slovenia’s social spending over the medium and long term. It discusses key features of the pension system, and analyzes the evolution of pension spending in the absence of reforms. The paper also examines the health and education spending and provides a framework to assess their efficiency relative to other countries.
Keywords:
ISCR; CR; insolvency; Slovenia; GDP; business regulation; insolvency proceeding; insolvency legislation; restructuring proceeding; debt ratio; insolvency regime; GDP impact; insolvency restructuring proceeding; Pension spending; Pensions; Aging; Solvency; Retirement; Global; Europe; Eastern Europe
Cover The Challenge of Public Pension Reform in Advanced and Emerging Economies
The Challenge of Public Pension Reform in Advanced and Emerging Economies
Mr. Benedict J. Clements
,
Mr. David Coady
,
Frank Eich
,
Mr. Sanjeev Gupta
,
Mr. Alvar Kangur
,
Baoping Shang
, and
Mauricio Soto

Abstract

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Keywords:
OP; pension; emerging market economy; retirement age; economy; IMF staff estimate
Cover IMF Working Papers
Stress Tests for Defined Benefit Pension Plans – A Primer
Gregorio Impavido
Stress testing is a useful and increasingly popular, yet sometimes misunderstood, method of analyzing the resilience of financial systems to adverse events. This paper aims to help demystify stress tests and illustrate their strengths and weaknesses. Using an Excel-based template with institution-specific data, readers are walked through the basics of liability valuation and stress testing of assets and liabilities of a typical defined benefit plan.
Keywords:
WP; present value; interest rate
Cover IMF Staff Country Reports
Russian Federation: Selected Issues
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; CIS market; CIS country; replacement rate
Cover IMF Staff Country Reports
Russian Federation: Selected Issues
International Monetary Fund
This Selected Issues paper for the Russian Federation discusses existing empirical efforts to measure the determinants of cross-country financial integration. Empirical studies that have adopted the gravity-model framework have found that it is generally successful in explaining bilateral financial flows. If the pension gap were to be financed through the budget, the model simulations suggest that fiscal room is best created by lowering government consumption. Consideration should be given to outsourcing the management of the mandatory contributions to private asset managers.
Keywords:
ISCR; CR; CIS market; CIS country; replacement rate; CIS economy; CIS dummy; Pension spending; Pensions; Retirement; Aging; Financial integration; Global
Cover IMF Research Bulletin
IMF Research Bulletin, September 2008
International Monetary Fund. Research Dept.
IMF research summaries on global population aging and pension reform (by Mario Catalán) and on questions about decoupling (by M. Ayhan Kose); country study on the United States (by Koshy Mathai); listing of visiting scholars at the IMF during June–August 2008; listing of contents of Vol. 55 No. 3 of IMF Staff Papers; listing of recent IMF Working Papers; and a listing of recent external publications by IMF staff.
Keywords:
IRB; pricing IMF liquidity provision; economy; emerging market growth; decoupling debate; policy line; business-cycle fluctuation; Aging; Pension reform; Emerging and frontier financial markets; Business cycles; Pension spending; Global; Middle East; Central America; Africa; Central Asia and the Caucasus
Cover IMF Working Papers
Consumer Confusion: The Choice of AFORE
Moisés J. Schwartz
,
Enrique E. Domínguez
, and
Roberto Calderón-Colín
This paper was prepared for the World Bank 4th Annual Contractual Savings Conference (Washington DC, April 2008) co-organized by Gregorio Impavido (gimpavido@imf.org). The article shows that account transfers among pension administrators in Mexico barely respond to price or return considerations and in general has not improved the consumer's pension balance. Instead of strengthening competition through lower fees and higher returns for the consumer, AFORE switching has so far undermined the system and resulted in the destruction of value. Moreover, "noisy" evaluations of the product by the consumer tend to undermine the power of competition. Thus, an increased number of pension fund managers has not provided a more competitive environment. The theoretical framework allows for the estimation of "noise" and mark-ups in the AFORE industry. As the number of AFOREs increases, the mark-up diminishes at a very slow rate. This implies that more participants in the industry will hardly affect prices.
Keywords:
WP; market share; utility function; competitive market; normal distribution