The Distributive Consequences of Active Welfare Policies in Europe
ABSTRACT This article examines the distributive consequences of active welfare policies in Europe by analysing tier‐specific investments in individualised employment services across four European welfare states: Denmark, Germany, the Netherlands and the United Kingdom.
Deborah Jackwerth‐Rice +1 more
wiley +1 more source
Lessons from the financial crisis: Funded pension funds should invest conservatively [PDF]
We model a three-pillar pension system and analyse in this context the impact of the financial crisis on the aggregate economy, using an overlapping generations model where individuals live for two periods.
Du Caicai, Muysken Joan, Sleijpen Olaf
core +1 more source
How Defined, Benefit Pension Assets Affect the Returns and Volatility of the Sponsor’s Stock
In its valuation of firms with defined benefit plans, the stock market combines changes in the valuation of pension assets with changes in the valuation of the net core assets.
Brooks Marshall +3 more
doaj
A Deep Learning Framework for Forecasting Medium‐Term Covariance in Multiasset Portfolios
ABSTRACT Forecasting the covariance matrix of asset returns is central to portfolio construction, risk management, and asset pricing. However, most existing models struggle at medium‐term horizons, several weeks to months, where shifting market regimes and slower dynamics prevail.
Pedro Reis, Ana Paula Serra, João Gama
wiley +1 more source
Personal assets and pension reform: How well prepared are the Germans? [PDF]
Demographic change presents major financing problems for the pay-as-you-go pension system. In response to these problems, the 2001 and 2004 German pension reforms reduced the statutory level of benefits from the pay-as-you system.
Börsch-Supan, Axel, Essig, Lothar
core +3 more sources
A Guide to Understanding the Pension Benefit Guaranty Corporation [PDF]
Although the federal government\u27s Pension Benefit Guaranty Corporation (PBGC) has been providing pension insurance for nearly 30 years, the agency\u27s financial situation has been particularly volatile over the past decade and has deteriorated ...
Congressional Budget Office
core +1 more source
Pension funds: conceptions of risk and the demand for ‘alternatives’
The expansion and innovation of financial markets is closely linked to the growth of pension funds. While the conventional narrative is based on the notion of financial development as a positive change, this paper argues that pension funds may induce ...
Bruno Bonizzi, Jennifer Churchill
doaj +1 more source
Holding out on restructuring negotiations: A legal analysis over Finnish and Swedish legislation
Abstract This article examines how Finnish and Swedish restructuring laws create opportunities for creditors to hold out on restructuring negotiations. Using Anthony Casey's new bargaining theory and the traditional creditors' bargain model as analytical frames, the study argues that holdouts arise when ex ante rights – particularly security interests,
Anssi Kärki
wiley +1 more source
Two Shades of Green? Gender Differences in Environmental Concern and Activism
ABSTRACT This study examines gender differences in environmental concern and activism using data from the World Values Survey. The results indicate that women are more likely than men to be concerned about the environment, but are less likely to engage in environmental activism.
Hava Orkut, Caroline Perrin
wiley +1 more source
How Is FinTech Shaping Household Portfolio Behaviour?
ABSTRACT This paper examines how FinTech adoption influences household portfolio allocation across major advanced economies. Using a flow‐of‐funds framework and the Almost Ideal Demand System (AIDS), we model household demand for currency, deposits, loans, debt securities, and equity in the United States, United Kingdom, Euro Area, Japan and Australia.
Victor Murinde, Athina Petropoulou
wiley +1 more source

