The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks
October 1, 2006
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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
Pages:
49
Volume:
2006
DOI:
Issue:
217
Series:
Working Paper No. 2006/217
Stock No:
WPIEA2006217
ISBN:
9781451864779
ISSN:
1018-5941
