Pension Fund Demand for High-quality Long-term Bonds: Quantifying Potential “Scarcity” of Suitable Investments

Oecd

Financial Market Trends, 2006, vol. 2006, issue 1, 155-201

Abstract: The article describes the results of a modeling exercise to gauge the size of potential pension fund demand for bonds under some simplifying assumptions, so as to illustrate the potential role of this specific group of investors. It provides a measure of the potential excess demand for high-quality fixed-income instruments from pension funds, using the admittedly restrictive assumptions that pension funds invest only in high-quality bonds in an attempt to achieve cash-flow matching of their liabilities.

Date: 2006
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