Mission Statement

Private investors and financial institutions are facing major challenges. Demographic change, digitalisation and climate change have far-reaching effects on old-age provision, savings behaviour, interest rates, financing conditions and the competitive environment in financial markets. The Research Department “Pensions and Sustainable Financial Markets” analyses the challenges posed by these global trends to pension systems and the financial sector. The department has two focal areas: household finance and banks and financial intermediation. Researchers conduct simulation studies and microeconometric analyses using government statistics and survey data. In view of these long-term trends, they generate evidence-based policy recommendations for sustainable pension systems and a financial architecture in Europe adapted to the changing macroeconomic conditions.