Pension Funds and Financial Stability: The Case of the UK Gilt Crisis

Q1 Economics, Econometrics and Finance

Intereconomics Pub Date : 2023-06-01 DOI:10.2478/ie-2023-0032

Jon Gudjonsson, Svend E. Hougaard Jensen

引用次数: 0

Abstract

While macroprudential policy has mostly focused on the role of banks, we argue that pension funds are also important for financial stability. Drawing on previous research on pension funds, we explain how their actions can have a vital impact on other financial institutions as well as on households and firms. Using the UK gilt crisis as a case in point, we recommend widening the scope for macroprudential policy to reflect the significance of pension funds for financial stability.

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养老基金与金融稳定:以英国国债危机为例

虽然宏观审慎政策主要关注银行的作用，但我们认为养老基金对金融稳定也很重要。根据以前对养老基金的研究，我们解释了他们的行为如何对其他金融机构以及家庭和企业产生重要影响。以英国国债危机为例，我们建议扩大宏观审慎政策的范围，以反映养老基金对金融稳定的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Intereconomics Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

5.00

自引率

0.00%

发文量

审稿时长

16 weeks

期刊介绍： Intereconomics publishes papers dealing with economic and social policy issues in Europe respectively in Euroland. The journal consists of the sections editorial, forum and articles. The editorial section contains brief comments on current questions of economic policy in Europe or effecting Europe. In the forum, several authors (researchers, politicians, representatives of trade unions and of employers associations etc.) voice their opinions on one particular current economic policy problem effecting Europe. The articles deal with economic policy issues and trends in Europe. They are mostly written by researchers in economics. Officially cited as: Intereconomics