Yasuyuki Fuchita, "Growing Old: Paying for Retirement and Institutional Money Management after the Financial Crisis"
English | 2011 | ISBN: 0815721536 | 151 pages | PDF | 1,1 MB
While the immediate dangers from the recent financial crisis have abated—much of the financial system has returned to profitability and the economy is growing, albeit slowly—the damage to the economy will linger for years. Among the many impacts is the problem that may be most acute in the United States: how state and local governments and private companies will honor their obligations under defined benefit (DB) pension plans. Institutional investors also confront new difficulties in the low-interest-rate environment that has prevailed since the onset of the crisis. East Asian economies, namely in Japan, Korea, and China, also face pension issues as their populations age.