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This paper focuses on the nexus between pension funds' balance sheet liabilities, reflecting their age profile and payments obligations, and the investment behavior and costs of these funds. The context of the analysis is the stringent regulatory framework and the highly fragmented and heterogeneous pension fund landscape in Switzerland. Detailed data from the Swiss Pension Statistic are analyzed using multivariate OLS-regressions. The evidence shows that a younger age structure and lower short-term benefits payouts are related to a higher share of equities and lower real estate holdings. Legal form, pension plan type, and size are important for administrative costs. The findings support the view that aging may lead to increased risk aversion and thus to a lower engagement of institutional investors in equities.

Financial Risk Management --- Labor --- Public Finance --- Demography --- Social Security and Public Pensions --- International Financial Markets --- Governmental Property --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Nonwage Labor Costs and Benefits --- Private Pensions --- Pensions --- Finance --- Public finance & taxation --- Population & demography --- Pension spending --- Asset allocation --- Government asset management --- Aging --- Asset-liability management --- Finance, Public --- Population aging --- Switzerland --- Pension trusts --- Finance. --- Economic aspects

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Examines the steps involved in restructuring the corporate sector. Large-scale corporate restructuring made necessary by a financial crisis is one of the most daunting challenges faced by economic policymakers. The government is forced to take a leading role, even if indirectly, because of the need to prioritize policy goals, address market failures, reform the legal and tax systems, and deal with the resistance of powerful interest groups.

Asset management --- Asset-liability management --- Banking --- Banks and Banking --- Banks and banking --- Banks --- Business enterprises --- Corporate Finance --- Debt Management --- Debt restructuring --- Debt --- Debts, External --- Depository Institutions --- Finance --- Finance, Public --- Financial Institutions and Services: General --- Financial Risk Management --- Government asset management --- Governmental Property --- International Financial Markets --- Micro Finance Institutions --- Mortgages --- Ownership & organization of enterprises --- Public finance & taxation --- Public Finance --- Sovereign Debt --- United Kingdom

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Examina las etapas del proceso de reestructuración del sector empresarial. La reestructuración a gran escala del sector empresarial que resulta necesaria como consecuencia de una crisis financiera es uno de los desafíos más abrumadores a que deben enfrentarse las autoridades de política económica El gobierno se ve forzado a asumir una función de liderazgo, siquiera de manera indirecta, debido a la necesidad de priorizar los objetivos de política, reformar los sistemas de leyes e impuestos y hacer frente a la resistencia de poderosos grupos de interés.

Banks and Banking --- Corporate Finance --- Financial Risk Management --- Public Finance --- Financial Institutions and Services: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Debt --- Debt Management --- Sovereign Debt --- Governmental Property --- International Financial Markets --- Finance --- Ownership & organization of enterprises --- Banking --- Public finance & taxation --- Business enterprises --- Debt restructuring --- Government asset management --- Asset management --- Banks and banking --- Debts, External --- Finance, Public --- Asset-liability management --- United Kingdom

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This Selected Issues paper describes the developments and challenges in the financial sector of the Republic of San Marino. The study analyzes the structure of the financial sector, compares the performance of Sammarinese banks with those in other countries, reviews the legal and regulatory environment as well as supervisory practices, and discusses the challenges facing the banking system. The paper also provides the statistical appendix report for the country.

Banks and Banking --- Labor --- Macroeconomics --- Public Finance --- Demography --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Social Security and Public Pensions --- Nonwage Labor Costs and Benefits --- Private Pensions --- Personal Income, Wealth, and Their Distributions --- Retirement --- Retirement Policies --- Governmental Property --- Pensions --- Banking --- Labour --- income economics --- Population & demography --- Public finance & taxation --- Pension spending --- Personal income --- Commercial banks --- Expenditure --- National accounts --- Financial institutions --- Government asset management --- Public financial management (PFM) --- Banks and banking --- Income --- Population aging --- Finance, Public --- San Marino, Republic of --- Income economics

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The main purpose of the mission was to continue TA to assist with upgrading the compilation and dissemination of fiscal data and GFS in Vietnam in line with the international standard, the Government Finance Statistics Manual 2014 (GFSM 2014).

Monetary policy. --- Statistics. --- International Finance. --- Accounting --- Budget planning and preparation --- Budget Systems --- Budget --- Budgeting & financial management --- Budgeting --- Computer Programs: Other --- Data Collection and Data Estimation Methodology --- Econometrics & economic statistics --- Expenditure --- Expenditures, Public --- Finance --- Finance, Public --- Financial reporting, financial statements --- Financial statements --- Government asset management --- Government finance statistics --- Governmental Property --- National Budget --- National Government Expenditures and Related Policies: General --- Public Administration --- Public finance & taxation --- Public Finance --- Public Sector Accounting and Audits --- Statistics --- Vietnam