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1 - 3 van 3 voor property securities fund
Microsoft Word - discussion164.doc
... et al., 2009). we use proxies for the international monetary fund (imf)'s core set of finan- cial soundness indicators ... , a., means, c., 1933. the modern corporation and private property (macmillian, new york). besanko, d., thakor, a., 1992. banking ... balance items total assets government deposit total deposit government securities total assets stock return variability correlation with the maximum ...
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memo221.pdf
... to the formation of the bubbles on the housing and securities markets that constituted the overture for the credit crisis.8 ... source own calculations on the basis of the international monetary fund, world economic outlook database, october 2008. the abundant supply ... the value of property titles erodes the value of their collateral. a drop in the value of property therefore diminishes the ...
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omslag policy brief 2011 7 uk indd
... risk management on behalf of their participants. efficient risk-sharing implies that the fund should spread out shocks over as many participants as possible. moreover, shocks should ... public securities to match their liabilities, private pension providers do not have to hold substantial solvency buffers. moreover, participants can hold individual accounts with transparent property rights that ...
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