Policy Notes:
Currency hedging and the Danish pension sector, with Birthe Merethe Jensen and Asger Munch Grønlund
The ratio of pension assets to GDP in Denmark is the highest among OECD countries. We establish a significant relation between US stock price movements and currency flows from the Danish pension sector’s rebalancing of hedge positions.
Refinancing behaviour of homeowners in Denmark when mortgage rates rise, with Henrik Yde Andersen, Erik Grenestam, Marcus Bjerregaard Læssøe, Alexander Meldgaard Otte
The Danish mortgage system allows fixed-rate mortgage borrowers to buy back their mortgages at a discount when interest rates rise. Homeowners choosing to cash out this discount become more sensitive to future developments in interest rates and house prices.