December 2019

23Dec

Marcha con artistas cierra un mes de inusuales protestas en Colombia

Una multitudinaria marcha, acompañada de artistas colombianos, colmó este domingo las calles de Medellín (noroeste) para exigirle un cambio de rumbo al gobierno conservador de Iván Duque, que enfrenta manifestaciones desde hace un mes. Bajo la consigna "Medellín resiste cantando", decenas de artistas e intérpretes locales se sumaron a una nueva demostración del descontento popular que estalló el 21 de noviembre. La movilización convocada por celebridades, colectivos, corporaciones y ONGs replicó la masiva respuesta del primer concierto itinerante "Un...

December 23, 2019
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23Dec

Colombia’s Pension Reform Hampered By Political Tension

According to a new report by Colombia Risk Analysis, the debate underway over pension reform in Colombia is plagued with misinformation and confusion resulting from the current divisive political climate in the country, and conflicting objectives by various political actors. Current protests and strikes over a myriad of grievances have partially paralyzed the country literally and figuratively. The current administration of President Ivan Duque enjoys only a 26% approval rating according to recent polls and thus lacks political capital...

December 23, 2019
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23Dec

Japan, European Development Bank Launch Social Bond Initiative

Japan’s $1.48 trillion Government Pension Investment Fund (GPIF) and the Council of Europe Development Bank (CEB) have launched a partnership to promote and develop sustainable capital markets. Their focus will be on social bonds, and the incorporation of ESG assessments in fixed-income investments. “GPIF requires all asset managers to integrate ESG into their investment analysis and decision-making,” Hiro Mizuno, CIO of GPIF, said in a statement. “We regard the purchase of green, social and sustainability bonds as one of...

December 23, 2019
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23Dec

Fintech’s next decade will look radically different

The birth and growth of financial technology developed mostly over the last ten years. So as we look ahead, what does the next decade have in store? I believe we’re starting to see early signs: in the next ten years, fintech will become portable and ubiquitous as it moves to the background and centralizes into one place where our money is managed for us. When I started working in fintech in 2012, I had trouble tracking competitive search terms...

December 23, 2019
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23Dec

President Macron confirms he will not take his pension

French President Emmanuel Macron will not take his future president’s pension, it has been confirmed, as protests against pension reform continue across France. As head of state, Mr Macron would have had an automatic right to take a pension equivalent to the salary of a state advisor at the end of his final term. This would have been €6,220 gross per month for life, under article 19 of a 1955 law. This pension is neither affected by the length...

December 23, 2019
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23Dec

Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry

By Howard C Kunreuther Insurance is an extraordinarily useful tool to manage risk. When it works as intended, it provides financial protection to individuals and a profitable business model for insurance firms and their investors. But it is broadly misunderstood by consumers, regulators, and insurance executives. This book looks at the behavior of individuals at risk, insurance industry decision makers, and policy makers at the local, state, and federal level involved in the selling, buying, and regulating of...

December 23, 2019
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20Dec

Impact Evaluation of the Zanzibar Universal Pension Scheme

By Dr Flavia Galvani, Florian Juergens The Revolutionary Government of Zanzibar strives to build a prosperous and peaceful society that ensures sustainable development, wellbeing and gender equality for everyone. To achieve this, the Government has put in place strategies and plans to meet the needs, and realize the rights, of each and everyone in society. It is our commitment to do our utmost to reduce poverty, vulnerability and violence, increase access to essential services, foster social integration, and promote...

December 20, 2019
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20Dec

Is Informality Good for Business? The Impacts of IDP Inflows on Formal Firms

By Sandra Rozo, Hernan Winkler This paper examines the effects of large inflows of internally displaced persons (IDP), who are primarily absorbed by the informal sector, on the behavior of formal manufacturing firms in Colombia. To identify causal effects, the analysis employs annual, firm-level panel data between 1995 and 2010 and exploits that when conflict intensifies, forcefully displaced individuals tend to migrate to municipalities where people from their origin locations settled earlier. The paper finds that large inflows of...

December 20, 2019
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20Dec

State Pension Funds Reduce Assumed Rates of Return

State and local public employee retirement systems in the United States manage over $4.3 trillion in public pension fund investments, with returns on these assets accounting for more than 60 cents of every dollar available to pay promised benefits. About three-quarters of these assets are held in what are often called risky assets—stocks and alternative investments, including private equities, hedge funds, real estate, and commodities.1 These investments offer potentially higher long-term returns, but their values fluctuate with ups and...

December 20, 2019
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20Dec

Debt Close to Retirement and Its Implications for Retirement Well-being

By Annamaria Lusardi, Olivia S. Mitchell, Noemi Oggero We analyze debt and debt management of Americans nearing retirement age. We show that older people have numerous financial obligations that can lead to financial distress. Using data from the 2015 National Financial Capability Study and an extensive literature review, we show that lack of financial literacy, lack of information, and behavioral biases help explain the prevalence of debt later in life. Our evidence indicates that debt at older ages can...

December 20, 2019
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