The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks

By Nicolas R Blancher, François Haas, John Kiff, Oksana Khadarina, Paul S. Mills, Parmeshwar Ramlogan, William Lee, Yoon Sook Kim, Todd Groome, Shinobu Nakagawa

October 1, 2006

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Nicolas R Blancher, François Haas, John Kiff, Oksana Khadarina, Paul S. Mills, Parmeshwar Ramlogan, William Lee, Yoon Sook Kim, Todd Groome, and Shinobu Nakagawa. The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks, (USA: International Monetary Fund, 2006) accessed November 8, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either nascent or nonexistent. As such, the paper investigates why these markets remain "incomplete." It also explores a range of options by which policymakers may encourage the development of these markets as part of governments' role as a risk manager.

Subject: Health care, Health care spending, Insurance, Insurance companies, Market risk

Keywords: Longevity risk, Market participant, Risk transfer, Transfer activity, Transfer market, WP

Publication Details

Pages:

49
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2006/217
Stock No:

WPIEA2006217
ISBN:

9781451864779
ISSN:

1018-5941

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