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Financial repression : here to stay and stronger than ever

Recurso electrónico / Electronic resource
Registro MARC
Tag12Valor
LDR  00000cam a22000004b 4500
001  MAP20200028727
003  MAP
005  20200918105023.0
008  181221e20200903deu|||| ||| ||eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎921
1001 ‎$0‎MAPA20180014208‎$a‎Saner, Patrick
24510‎$a‎Financial repression‎$b‎: here to stay and stronger than ever ‎$c‎Patrick Saner, Fiona Gillespie
260  ‎$a‎Zurich‎$b‎Swiss Re Institute‎$c‎2020
300  ‎$a‎8 p.
4900 ‎$a‎September 2020
520  ‎$a‎Financial repression - governments' influence on private capital allocation through monetary policy, regulatory means or direct market intervention - reached a new high in 2020 when the COVID-19 pandemic accelerated. As this environment persists, it is crucial that governments review the cost-benefit analysis of their policy mix to ensure the impact is sustainable for the long term. We calculate that on average, since the global financial crisis (GFC) of 2008-09 the net "tax" on US households from foregone interest income on deposits, pensions and life insurance assets has been USD 160 billion per year (see Figure 1).1 This equates to about 3.5% of the total disposable income of US households per year, or half of the average annual savings rate of 7.0% since 2008. On average, each year long-term investors such as US and European insurers and pension funds have foregone USD 185 billion of yield income, equivalent to about 1.5% of their total fixed income investments.
650 4‎$0‎MAPA20200005599‎$a‎COVID-19
650 4‎$0‎MAPA20080552022‎$a‎Pandemias
650 4‎$0‎MAPA20080611897‎$a‎Perspectivas económicas
650 4‎$0‎MAPA20080608316‎$a‎Recuperación económica
650 4‎$0‎MAPA20080580872‎$a‎Impacto económico
650 4‎$0‎MAPA20080586874‎$a‎Política monetaria
7001 ‎$0‎MAPA20200011552‎$a‎Gillespie, Fiona
7102 ‎$0‎MAPA20170013402‎$a‎Swiss Re Institute