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Evaluation of economic variables on pension fund performance of selected countries | ||
| Journal of Mathematics and Modeling in Finance | ||
| دوره 4، شماره 1، مهر 2024، صفحه 115-125 اصل مقاله (188.56 K) | ||
| نوع مقاله: Research Article | ||
| شناسه دیجیتال (DOI): 10.22054/jmmf.2024.79648.1134 | ||
| نویسندگان | ||
| Mitra Ghanbarzadeh* 1؛ Nasrin Hozarmoghadam2؛ Asma Hamzeh3 | ||
| 1Personal Insurance Department, Insurance Research Center, Tehran, Iran | ||
| 2Personal Insurance Department, Insurance Research Center, Tehran, Iran | ||
| 3Modern Insurance Technologies Department, Insurance Research Center, Tehran, Iran | ||
| چکیده | ||
| Since pension funds are part of the social security system and have a socio-economic function, in order to maintain the value of the insured's savings, they should invest them, which will have a direct relationship with the money market and the capital market of each country. Due to the significant resources they have, pension funds affect the country's economic variables and, of course, are mostly affected by economic variables. This issue reveals the importance of examining how macroeconomic variables affect pension funds and the intensity of each one's impact, as well as the management of funds' resources in the face of the fluctuations of these variables. Therefore, in this paper, the impact of pension funds on economic variables in 8 countries is investigated. Based on the results obtained in this research, the variables of short-term interest rate, exchange rate, and unemployment rate have an effect on the ratio of pension fund assets to GDP (as an indicator of performance). | ||
| کلیدواژهها | ||
| Pension Fund؛ Panel Regression Model؛ Stationarity؛ Macroeconomic Variables | ||
| مراجع | ||
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[1] Estrada, M., Khan, A., Staniewski, M., Mansor, N. (2017). How inflation and the exchange rate affect the real value of pension plan systems: the case of Malaysia. SSRC Working Paper Series. 2 (201), 127. [2] Jafari, H. (2017). Key indicators of the labor market and its effect on pension funds in Iran, Saba Pension Strategies Institute. [3] Mazreku, I., Morina, F., Curraj, E. (2020). Evaluation of the financial performance of pension funds. Empirical Evidence: Kosovo, Albania and North Macedonia. European Journal of Sustainable Development, 9 (1), 161. [4] Mokri F, Zandi F, Hosseini S S, Khezri M. (2021). Applying the nonlinear mild transition regression (STR) model in determining the relationship between macroeconomic variables and the financial burden of pension funds for the government. Quarterly Journal of Economic Research and Policies; 29 (98) :447-477 [5] Mousavian Anarki, S. A., Tamasoki Bidgoli, M., and Rahimi, F. (2019). The effect of macroeconomic variables on pension funds and the correct management of assets. Second International Conference on Innovation in Business Management and Economics. [6] Najafi, H., Damankeshideh, M., Mohammadi, T. (2021). The effect of macroeconomic variables on the resilience of pension funds and the achievement of social rights in terms of jurisprudence, Strategic Studies of Jurisprudence and Law, 3 (2), pp. 77-98. doi: 10.22034/ejs.2021.140726 [7] Ofori-Abebrese, G., Becker Pickson, R., Abubakari, S. (2017). Assessing the impact of macroeconomic variables on pension benefits in Ghana: A case of social security and national insurance trust. South African journal of economic and management sciences, 20 (1), 1-10. [8] Safarzadeh, A. (2019). The effect of macro variables on the national pension fund, Saba Pension Strategies Institute. | ||
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