Aging, Asset Allocation, and Costs: Evidence for the Pension Fund Industry in Switzerland
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Estelle James & Gary Ferrier & James H. Smalhout & Dimitri Vittas, 2000.
"Mutual Funds and Institutional Investments: What Is the Most Efficient Way to Set Up Individual Accounts in a Social Security System?,"
NBER Chapters, in: Administrative Aspects of Investment-Based Social Security Reform, pages 77-136,
National Bureau of Economic Research, Inc.
- Estelle James & Gary Ferrier & James Smalhout & Dimitri Vittas, 1999. "Mutual Funds and Institutional Investments: What is the Most Efficient Way to Set Up Individual Accounts in a Social Security System?," NBER Working Papers 7049, National Bureau of Economic Research, Inc.
- James, Estelle & Ferrier, Gary & Smalhout, James & Vittas, Dimitri, 1999. "Mutual funds and institutional investments - what is the most efficient way to set up individual accounts in a social security system?," Policy Research Working Paper Series 2099, The World Bank.
- Axel Börsch‐Supan & Florian Heiss & Alexander Ludwig & Joachim Winter, 2003.
"Pension Reform, Capital Markets and the Rate of Return,"
German Economic Review, Verein für Socialpolitik, vol. 4(2), pages 151-181, May.
- Börsch-Supan Axel & Ludwig Alexander & Heiss Florian & Winter Joachim, 2003. "Pension Reform, Capital Markets and the Rate of Return," German Economic Review, De Gruyter, vol. 4(2), pages 151-181, May.
- Börsch-Supan, Axel & Heiß, Florian & Ludwig, Alexander & Winter, Christoph, 2002. "Pension reform, capital markets, and the rate of return," MEA discussion paper series 02023, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Börsch-Supan, Axel H. & Heiss, Florian & Ludwig, Alexander & Winter, Joachim, 2003. "Pension reform, capital markets and the rate of return," Munich Reprints in Economics 20200, University of Munich, Department of Economics.
- Gregory H. Chun & Brian A. Ciochetti & James D. Shilling, 2000. "Pension-Plan Real Estate Investment in an Asset-Liability Framework," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 28(3), pages 467-491.
- Barr, Nicholas, 2002. "Reforming pensions: myths, truths, and policy choices," LSE Research Online Documents on Economics 286, London School of Economics and Political Science, LSE Library.
- Axel Börsch‐Supan & Florian Heiss & Alexander Ludwig & Joachim Winter, 2003.
"Pension Reform, Capital Markets and the Rate of Return,"
German Economic Review, Verein für Socialpolitik, vol. 4(2), pages 151-181, May.
- Börsch-Supan, Axel & Heiss, Florian & Winter, Joachim, 2000. "Pension reform, capital markets, and the rate of return," Discussion Papers 589, Institut fuer Volkswirtschaftslehre und Statistik, Abteilung fuer Volkswirtschaftslehre.
- Börsch-Supan, Axel H. & Heiss, Florian & Ludwig, Alexander & Winter, Joachim, 2003. "Pension reform, capital markets and the rate of return," Munich Reprints in Economics 20200, University of Munich, Department of Economics.
- Börsch-Supan, Axel & Heiß, Florian & Ludwig, Alexander & Winter, Christoph, 2002. "Pension reform, capital markets, and the rate of return," MEA discussion paper series 02023, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Kieran Mc Morrow & Werner Röger, 2003. "Economic and financial market consequences of ageing populations," European Economy - Economic Papers 2008 - 2015 182, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Junning Cai, 2004. "Baby Boom, Asset Market Meltdown and Liquidity Trap," Macroeconomics 0401002, University Library of Munich, Germany.
- James M. Poterba, 2001. "Demographic Structure And Asset Returns," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 565-584, November.
- Campbell, John Y. & Viceira, Luis M., 2002. "Strategic Asset Allocation: Portfolio Choice for Long-Term Investors," OUP Catalogue, Oxford University Press, number 9780198296942.
- Nicholas Barr, 2002. "Reforming pensions: Myths, truths, and policy choices," International Social Security Review, John Wiley & Sons, vol. 55(2), pages 3-36.
- Oecd, 2004. "Ageing and Financial Markets," Financial Market Trends, OECD Publishing, vol. 2004(1), pages 85-120.
- Alestalo, Noora & Puttonen, Vesa, 2006. "Asset allocation in Finnish pension funds," Journal of Pension Economics and Finance, Cambridge University Press, vol. 5(1), pages 27-44, March.
- Bakshi, Gurdip S & Chen, Zhiwu, 1994. "Baby Boom, Population Aging, and Capital Markets," The Journal of Business, University of Chicago Press, vol. 67(2), pages 165-202, April.
- Martin Feldstein, 2005.
"Structural Reform of Social Security,"
Journal of Economic Perspectives, American Economic Association, vol. 19(2), pages 33-55, Spring.
- Martin Feldstein, 2005. "Structural Reform of Social Security," NBER Working Papers 11098, National Bureau of Economic Research, Inc.
- Feldstein, Martin, 2005. "Structural Reform of Social Security," Scholarly Articles 2794830, Harvard University Department of Economics.
- Peter A. Diamond, 2000.
"Administrative Costs and Equilibrium Charges with Individual Accounts,"
NBER Chapters, in: Administrative Aspects of Investment-Based Social Security Reform, pages 137-172,
National Bureau of Economic Research, Inc.
- Peter Diamond, 1999. "Administrative Costs and Equilibrium Charges with Individual Accounts," NBER Working Papers 7050, National Bureau of Economic Research, Inc.
- Mr. Nicolas R Blancher & François Haas & Mr. John Kiff & Ms. Oksana Khadarina & Mr. Paul S. Mills & Parmeshwar Ramlogan & Mr. William Lee & Ms. Yoon Sook Kim & Todd Groome & Mr. Shinobu Nakagawa, 2006. "The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks," IMF Working Papers 2006/217, International Monetary Fund.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Wilson Ngugi & Amos Njuguna, 2018. "Nexus Between Pension Fund Size, Design and Investment Strategy: A Review of Occupational Retirement Benefits Schemes in Kenya," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(3), pages 108-116, July.
- Alda, Mercedes, 2017. "The relationship between pension funds and the stock market: Does the aging population of Europe affect it?," International Review of Financial Analysis, Elsevier, vol. 49(C), pages 83-97.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Axel Börsch‐Supan & Alexander Ludwig & Joachim Winter, 2006.
"Ageing, Pension Reform and Capital Flows: A Multi‐Country Simulation Model,"
Economica, London School of Economics and Political Science, vol. 73(292), pages 625-658, November.
- Börsch-Supan, Axel & Ludwig, Alexander & Winter, Joachim, 2001. "Aging, pension reform, and capital flows: a multi-country simulation model," Papers 01-08, Sonderforschungsbreich 504.
- Axel Boersch-Supan & Alexander Ludwig & Joachim Winter, 2005. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," NBER Working Papers 11850, National Bureau of Economic Research, Inc.
- Axel Boersch-Supan & Alexander Ludwig, 2005. "Aging, pension reform, and capital flows: A multi-country simulation model," Computing in Economics and Finance 2005 123, Society for Computational Economics.
- Ludwig, Alexander & Winter, Joachim & Börsch-Supan, Axel, 2003. "Aging, pension reform, and capital flows: A multi-country simulation model," MEA discussion paper series 03028, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Börsch-Supan, Axel & Ludwig, Alexander & Winter, Joachim, 2001. "Aging, pension reform, and capital flows: A multi-country simulation model," Sonderforschungsbereich 504 Publications 01-08, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Axel Börsch-Supan & Alexander Ludwig & Joachim Winter, 2002. "Aging, pension reform and capital flows: a multi-country simulation model," Computing in Economics and Finance 2002 108, Society for Computational Economics.
- Börsch-Supan, Axel & Ludwig, Alexander & Winter, Joachim, 2004. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," MEA discussion paper series 04064, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Börsch-Supan, Axel & Ludwig, Alexander & Sommer, Mathias, 2005.
"Aging and asset prices,"
Papers
07-29, Sonderforschungsbreich 504.
- Börsch-Supan, Axel & Ludwig, Alexander & Sommer, Mathias, 2005. "Aging and Asset Prices," Sonderforschungsbereich 504 Publications 07-29, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Börsch-Supan, Axel & Ludwig, Alexander & Sommer, Mathias, 2007. "Aging and Asset Prices," MEA discussion paper series 07129, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Joachim Winter, 2002. "The impact of pension reforms and demography on stock markets," MEA discussion paper series 02021, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Döring, Diether & Buth, Rainer & Rosengart, Anja Helena, 2007. "Bedroht die künftige demographische Entwicklung die Vermögenswerte kapitalgedeckter Altersversorgungssysteme? Auswertung des Standes der internationalen Forschung," Arbeitspapiere 128, Hans-Böckler-Stiftung, Düsseldorf.
- Jau-er Chen & Rajarshi Mitra, 2020. "Demographic Shifts and Asset Returns in Japan," Economics Bulletin, AccessEcon, vol. 40(2), pages 1570-1582.
- Ulrich Thießen, 2007. "Aging and Structural Change," Discussion Papers of DIW Berlin 742, DIW Berlin, German Institute for Economic Research.
- Ruppert, Kilian & Stähler, Nikolai, 2020. "Household savings, capital investments and public policies: What drives the German current account?," Discussion Papers 41/2020, Deutsche Bundesbank.
- Melanie Lührmann, 2003. "Demographic Change, Foresight and International Capital Flows," MEA discussion paper series 03038, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Schön, Matthias & Stähler, Nikolai, 2020.
"When old meets young? Germany's population ageing and the current account,"
Economic Modelling, Elsevier, vol. 89(C), pages 315-336.
- Schön, Matthias & Stähler, Nikolai, 2019. "When old meets young? Germany's population ageing and the current account," Discussion Papers 33/2019, Deutsche Bundesbank.
- Ruppert, Kilian & Stähler, Nikolai, 2022. "What drives the German current account? Household savings, capital investments and public policies," Economic Modelling, Elsevier, vol. 108(C).
- Roel van Elk & Marc van der Steeg & Dinand Webbink, 2013. "The effects of a special program for multi-problem school dropouts on educational enrolment, employment and criminal behaviour; Evidence from a field experiment," CPB Discussion Paper 241.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
- Ivica Dus & Raimond Maurer & Olivia S. Mitchell, 2003.
"Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities versus Phased Withdrawal Plans,"
Working Papers
wp063, University of Michigan, Michigan Retirement Research Center.
- Dus, Ivica & Maurer, Raimond H. & Mitchell, Olivia S., 2004. "Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans," CFS Working Paper Series 2004/01, Center for Financial Studies (CFS).
- Axel Börsch‐Supan & Alexander Ludwig & Joachim Winter, 2006.
"Ageing, Pension Reform and Capital Flows: A Multi‐Country Simulation Model,"
Economica, London School of Economics and Political Science, vol. 73(292), pages 625-658, November.
- Börsch-Supan, Axel & Ludwig, Alexander & Winter, Joachim, 2001. "Aging, pension reform, and capital flows: a multi-country simulation model," Papers 01-08, Sonderforschungsbreich 504.
- Axel Börsch-Supan & Alexander Ludwig & Joachim Winter, 2005. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," DNB Working Papers 065, Netherlands Central Bank, Research Department.
- Axel Boersch-Supan & Alexander Ludwig, 2005. "Aging, pension reform, and capital flows: A multi-country simulation model," Computing in Economics and Finance 2005 123, Society for Computational Economics.
- Axel Boersch-Supan & Alexander Ludwig & Joachim Winter, 2005. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," NBER Working Papers 11850, National Bureau of Economic Research, Inc.
- Ludwig, Alexander & Winter, Joachim & Börsch-Supan, Axel, 2003. "Aging, pension reform, and capital flows: A multi-country simulation model," MEA discussion paper series 03028, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Axel Börsch-Supan & Alexander Ludwig & Joachim Winter, 2002. "Aging, pension reform and capital flows: a multi-country simulation model," Computing in Economics and Finance 2002 108, Society for Computational Economics.
- Börsch-Supan, Axel & Ludwig, Alexander & Winter, Joachim, 2001. "Aging, pension reform, and capital flows: A multi-country simulation model," Sonderforschungsbereich 504 Publications 01-08, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Börsch-Supan, Axel & Ludwig, Alexander & Winter, Joachim, 2004. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," MEA discussion paper series 04064, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Takáts, Előd, 2012. "Aging and house prices," Journal of Housing Economics, Elsevier, vol. 21(2), pages 131-141.
- Greco, Luciano G., 2006. "The optimal design of funded pensions," LSE Research Online Documents on Economics 24519, London School of Economics and Political Science, LSE Library.
- Iwaisako, Tokuo & 祝迫, 得夫 & Ono, Arito & Saito, Amane & Tokuda, Hidenobu, 2016. "Impact of population aging on household savings and portfolio choice in Japan," HIT-REFINED Working Paper Series 61, Institute of Economic Research, Hitotsubashi University.
- Stefano DellaVigna & Joshua M. Pollet, 2005. "Attention, Demographics, and the Stock Market," NBER Working Papers 11211, National Bureau of Economic Research, Inc.
- Volker Meier & Martin Werding, 2010.
"Ageing and the welfare state: securing sustainability,"
Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(4), pages 655-673, Winter.
- Meier, Volker & Werding, Martin, 2010. "Ageing and the welfare state: Securing sustainability," Munich Reprints in Economics 19194, University of Munich, Department of Economics.
- Volker Meier & Martin Werding, 2010. "Ageing and the Welfare State: Securing Sustainability," CESifo Working Paper Series 2916, CESifo.
- Kedar-Levy, Haim, 2014. "The potential effect of US baby-boom retirees on stock returns," The North American Journal of Economics and Finance, Elsevier, vol. 30(C), pages 106-121.
- an de Meulen, Philipp & Calahorrano, Lena, 2009.
"Why Don't Labor and Capital Flow Between Young and Old Countries?,"
Proceedings of the German Development Economics Conference, Frankfurt a.M. 2009
21, Verein für Socialpolitik, Research Committee Development Economics.
- Lena Calahorrano & Philipp an de Meulen, 2009. "Why Don’t Labor and Capital Flow Between Young and Old Countries?," MAGKS Papers on Economics 200942, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
More about this item
Keywords
WP; asset; cost; liability; investment; ratio;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2007/029. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.