8th Geneva Report of the World Economy
Pension funds are becoming the largest institutional investors in global financial markets. They help individuals save for their old age and protect the value of their pensions. In so far as they improve risk sharing along time and across individuals, pension funds may also support innovation and growth in the economy. However, pension funds operate in an environment characterised by a number of serious market imperfections (poor financial education of investors and managers, informational asymmetries in the delegation of saving and portfolio management decisions, imperfect labour markets, and potential supply versus demand imbalances in financial markets).
This eighth ICMB/CEPR Geneva Report on the World Economy takes a stance on a number of controversial issues concerning the future of pension funds.
"More Pension Wisdom from Europe: the Geneva Report on Pension Reform", The Ambachtsheer Letter, Letter 248, Sept. 2006
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Benoit Coeuré "Mettre les fonds de pension au service de la croissance" in CEPII L´economié mondiale 2008, La Decuverte, Paris, 2007.