scholarly journals Review Of The Fund’s Income Position For FY 2020 And FY 2021-2022

Policy Papers ◽  
2020 ◽  
Vol 20 (37) ◽  
Author(s):  
Keyword(s):  
Financial Markets ◽  
Discount Rate ◽  
Asset Returns ◽  
Retirement Plan ◽  
Income Position ◽  
The Impact

This paper reviews the Fund’s income position for FY 2020 and FY 2021–22. It updates the April 2019 projections and proposes decisions for the current year. The paper also includes a proposed decision to set the margin for the rate of charge for financial years 2021 and 2022. Projections of the Fund’s income are subject to larger than normal uncertainties related to the impact of the COVID-19 pandemic on key assumptions. For FY 2020, these uncertainties relate mainly to the discount rate used to measure the Fund’s retirement plan obligations at April 30, 2020 and to the full year asset returns on the retirement plan and the Endowment Subaccount (EA), given the recent volatility in financial markets. For FY 2021–22, a key additional uncertainty is the scale of new lending associated with the economic fallout from the COVID-19 pandemic.

scholarly journals An Empirical Assessment of COVID-19 Pandemic on Asset Market Responses in India

2021 ◽  
Vol 17 (4) ◽  
pp. 106
Author(s):  
Vikram Mohite ◽  
Vibha Bhandari
Keyword(s):  
Financial Markets ◽  
Asset Returns ◽  
Asset Market ◽  
Market Returns ◽  
Volatility Clustering ◽  
Asymmetric Volatility ◽  
Market Responses ◽  
The Impact ◽  
The Relationship ◽  
Model Approach

The study investigates the financial market’s response during the period of last nine months starting from the day when first COVID-19 case was confirmed in India. This paper attempts to gauge the impact of rise in COVID-19 confirmed number of cases on stock market as well as commodities market returns. A multi-model approach is used in the current research to assess the relationship between daily number of confirmed cases of COVID-19 and movement of asset returns from January 2020 to September 2020. The findings reveal that though financial markets exhibited asymmetric volatility clustering, it could not be traced to COVID-19 pandemic for the period under study in India.

The Impact of EMU on European Financial Markets

2001 ◽  
Vol 62 (2) ◽  
pp. 83-95
Author(s):  
Ernst-Ludwig von Thadden
Keyword(s):  
Financial Markets ◽  
The Impact

Normative dimensions of central banking: How the guardians of financial markets affect justice

2017 ◽  
Author(s):  
Peter Dietsch
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Financial Markets ◽  
Central Banking ◽  
Democratic Legitimacy ◽  
Policy Agenda ◽  
Theory Of Justice ◽  
Introductory Section ◽  
The Impact

Monetary policy, and the response it elicits from financial markets, raises normative questions. This chapter, building on an introductory section on the objectives and instruments of monetary policy, analyzes two such questions. First, it assesses the impact of monetary policy on inequality and argues that the unconventional policies adopted in the wake of the financial crisis exacerbate inequalities in income and wealth. Depending on the theory of justice one holds, this impact is problematic. Should monetary policy be sensitive to inequalities and, if so, how? Second, the chapter argues that the leverage that financial markets have today over the monetary policy agenda undermines democratic legitimacy.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

scholarly journals EQUILIBRIUM ASSET RETURNS IN FINANCIAL MARKETS

2019 ◽  
Vol 22 (02) ◽  
pp. 1850063 ◽  
Author(s):  
DILIP B. MADAN ◽  
WIM SCHOUTENS
Keyword(s):  
Financial Markets ◽  
Fixed Points ◽  
Asset Prices ◽  
Asset Returns ◽  
Expected Returns ◽  
Response Functions ◽  
Limit Laws ◽  
Return Distributions ◽  
Equilibrium Distributions ◽  
The Cost

Return distributions in the class of pure jump limit laws are observed to reflect numerous asymmetries between the upward and downward motions of asset prices. The return distributions are modeled by self-decomposable parametric laws with all parameters continuously responding to each other. Fixed points of the response functions define equilibrium distributions. The equilibrium distributions that can arise in practice are constrained by the level of return acceptability they may attain. As a consequence, expected returns are equated to risk measured by the cost of purchasing the negative of the centered return. The asymmetries studied include differences in scale, speed, power variation, excitation and cross-excitation.

scholarly journals The Impact Of Defeasance On Bond Prices

2011 ◽  
Vol 4 (3) ◽  
pp. 15
Author(s):  
James A. Seifert ◽  
David E. Mielke
Keyword(s):  
Financial Markets ◽  
Corporate Debt ◽  
Bond Prices ◽  
Price Changes ◽  
Before And After ◽  
Time Periods ◽  
Changes In Risk ◽  
The Impact

This study reports on the financial markets reaction to the defeasance of corporate debt and whether the market perceives a changes in risk as a result of this activity. The prices of seventeen bonds both before and after defeasance were analyzed using t-tests to determine if any significant price changes related to the act of defeasance occurred between these two time periods. Contrary to what might be expected no significant differences were found.

Sign in / Sign up

Export Citation Format

Share Document