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The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks
Author:
Mr. Nicolas R Blancher
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https://orcid.org/0000-0002-1933-4591
,
François Haas
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,
Mr. John Kiff
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https://orcid.org/0000-0002-0473-0831
,
Ms. Oksana Khadarina
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,
Mr. Paul S. Mills
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,
Parmeshwar Ramlogan
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,
Mr. William Lee
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,
Ms. Yoon Sook Kim
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,
Todd Groome
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Mr. Shinobu Nakagawa
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Series:
IMF Working Papers
Volume/Issue:
Volume 2006: Issue 217
Language:
English
Publication Date:
01 Oct 2006
DOI:
https://doi.org/10.5089/9781451864779.001
ISBN:
9781451864779
ISSN:
1018-5941
Pages:
49
Keywords:
WP; transfer market; market participant; longevity risk; risk transfer; transfer activity
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either nascent or nonexistent. As such, the paper investigates why these markets remain "incomplete." It also explores a range of options by which policymakers may encourage the development of these markets as part of governments' role as a risk manager.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund