
Insurers play key role in monetary transmission – IMF paper
Authors show sensitivity to long end of yield curve is “causally connected” to risk premia

Life insurance firms in the US play an important role in transmitting the effects of monetary policy, research published by the International Monetary Fund finds.
In their working paper, published on March 14, Divya Kirti and Akshat Singh say research has tended to focus on the banking sector when exploring the transmission mechanism. But because non-banks, such as insurance firms and pension funds, trade longer-term securities, the authors say their behaviour in response to monetary policy
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