Tomorrow's lecture will review the functions of the ECB and discuss the transmission mechanisms of monetary policy with regard to the interaction of the central bank and very large, institutional investors. We'll use pensions as an example of a very large institutional fund which has direct effects on the population when things go wrong.
Here's a 3 slide handout, and here are the slides.
Readings
Liang and Weisbenner,Investor Behavior and the Purchase of Company Stock in 401(k) Plans - The Importance of Plan Design
Blinder,A. Central Banking in Theory and Practice, MIT Press, Cambridge, Mass, 1998.
Scheller, The ECB, History, Role, and Functions, 2004
OECD, Private Pensions Outlook, 2008.
Attacks on pension relief short-sighted and reckless, Irish Times, 2/04/09