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...

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Main Author:	Piffaretti, Nadia F.
Format:	Journal Article
Language:	EN
Published:	2012
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

id	okr-10986-4843
recordtype	oai_dc
spelling	okr-10986-48432021-04-23T14:02:19Z 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
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	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 Piffaretti, Nadia F. Financing for Retirement and the 2007-2009 Unwinding of the Financial Sector
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
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
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	2012
url	http://hdl.handle.net/10986/4843
_version_	1764392975971909632

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

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