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Retirement System Risk Management Implications of the New Regulatory Order

Mitchell Olivia S. Maurer Raimond Orszag J. Michael
Innbundet / 2016 / Engelsk

Produktdetaljer

ISBN
9780198787372
Publisert
2016
Utgiver
Oxford University Press
Vekt
484 gr
Høyde
236 mm
Bredde
165 mm
Dybde
18 mm
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
242

Redaktør
Mitchell Olivia S.
Maurer Raimond
Orszag J. Michael

Biografisk notat

Dr. Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor, Professor of Insurance and Risk Management and Business Economics and Public Policy, Executive Director of the Pension Research Council, and Director of the Boettner Center for Pensions and Retirement Research, all at the Wharton School of the University of Pennsylvania. Dr. Mitchell's main interests are public and private pensions, insurance and risk management, financial literacy, and social insurance. She received her MA and PhD degrees in Economics from the University of Wisconsin-Madison, and her BA in Economics from Harvard University. Raimond Maurer is the Chair of Investment, Portfolio Management, and Pension Finance at the Finance Department of the Goethe University Frankfurt. His research focuses on asset management, life-time portfolio choice, real estate, and pension finance. He serves in several professional capacities including the Union Real Estate Investment group, the Society of Actuaries (academic chairman of AFIR), the Association of Certified International Investment Analysts (academic director and member of the International Examination Committee). He earned his Habilitation, PhD, and Diploma in business administration from Mannheim University, and he was awarded an honorary doctorate from the State University of Finance and Economics of St. Petersburg. Michael Orszag is Head of Research at Willis Towers Watson, a global actuarial consulting firm. His research interests include pensions, personnel economics, risk management, and insurance. He is a founding editor of the Journal of Pension Economics and Finance and co-editor of the Oxford Handbook of Pensions and Retirement Income. He earned his PhD from the University of Michigan in economics and his AB from Princeton University in economics.

Retirement System Risk Management Implications of the New Regulatory Order

Mitchell Olivia S. Maurer Raimond Orszag J. Michael
Innbundet / 2016 / Engelsk
Mitchell Olivia S. Maurer Raimond Orszag J. Michael
Innbundet / 2016 / Engelsk
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Overall, this book is very informative and easy to read. It is written such that people without prior knowledge of regulatory order can easily understand the related issues. It proposes a wide overview of the new regulations for the retirement system, in particular for North America and Europe This volume also presents an interesting sample of developments in retirement provision, which is an area of extensive research focus around the world. Through this edition, academics and practitioners discuss topics pertinent to risk management and pension design. I strongly recommend this book to readers of the Journal of Pension Economics and Finance.

Héloïse Labit Hardy, Australian Research Council Centre of Excellence in Population Ageing Research

In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the European System of Financial Supervision (ESFS) is also crafting a framework to supervise regulated financial sector institutions including banks, insurers, pension funds, and asset managers. The implosion of the financial sector has also prompted calls for accounting changes from those seeking to better understand how assets and liabilities are reported. Initially banks were seen by many as the most important focus for regulatory reform, but other institutions are now attracting policymaker attention. There is logic to this in terms of managing systemic risk and ensuring a level playing field that avoids arbitrage between institutional structures. Yet the nature of pension and insurer liabilities is so different from that of bank liabilities that careful attention is needed in drafting appropriate rules. The new rules are having both direct and spill-over effects on retirement systems around the world. The first half of this volume undertakes an assessment of how global responses to the financial crisis are potentially altering how insurers, pension plan sponsors, and policymakers will manage risk in the decades to come. The second half evaluates developments in retirement saving and retirement products, to determine which and how these might help meet shortfalls in retirement provision.
Les mer
The global financial crisis had immediate and profound impacts on pension and insurance company assets intended to finance millions of peoples' retirement. This volume illustrates several ways in which retirement risk management should be conceived of differently from bank practice.
Les mer
I. GLOBAL RISK ASSESSMENT FOR PENSIONS AND ANNUITIES; II. DEVELOPMENTS IN RETIREMENT SAVING AND RETIREMENT PRODUCTS
Timely topic benefitting pension plan participants, administrators and policymakers Contributions from prominent contributors Accessible to wide audience Builds on previous Pension Research Council publications Interdisciplinary appeal; pensions, finance, economics, politics
Les mer
Dr. Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor, Professor of Insurance and Risk Management and Business Economics and Public Policy, Executive Director of the Pension Research Council, and Director of the Boettner Center for Pensions and Retirement Research, all at the Wharton School of the University of Pennsylvania. Dr. Mitchell's main interests are public and private pensions, insurance and risk management, financial literacy, and social insurance. She received her MA and PhD degrees in Economics from the University of Wisconsin-Madison, and her BA in Economics from Harvard University. Raimond Maurer is the Chair of Investment, Portfolio Management, and Pension Finance at the Finance Department of the Goethe University Frankfurt. His research focuses on asset management, life-time portfolio choice, real estate, and pension finance. He serves in several professional capacities including the Union Real Estate Investment group, the Society of Actuaries (academic chairman of AFIR), the Association of Certified International Investment Analysts (academic director and member of the International Examination Committee). He earned his Habilitation, PhD, and Diploma in business administration from Mannheim University, and he was awarded an honorary doctorate from the State University of Finance and Economics of St. Petersburg. Michael Orszag is Head of Research at Willis Towers Watson, a global actuarial consulting firm. His research interests include pensions, personnel economics, risk management, and insurance. He is a founding editor of the Journal of Pension Economics and Finance and co-editor of the Oxford Handbook of Pensions and Retirement Income. He earned his PhD from the University of Michigan in economics and his AB from Princeton University in economics.
Les mer
Timely topic benefitting pension plan participants, administrators and policymakers Contributions from prominent contributors Accessible to wide audience Builds on previous Pension Research Council publications Interdisciplinary appeal; pensions, finance, economics, politics
Les mer

Relaterte produkter

Overall, this book is very informative and easy to read. It is written such that people without prior knowledge of regulatory order can easily understand the related issues. It proposes a wide overview of the new regulations for the retirement system, in particular for North America and Europe This volume also presents an interesting sample of developments in retirement provision, which is an area of extensive research focus around the world. Through this edition, academics and practitioners discuss topics pertinent to risk management and pension design. I strongly recommend this book to readers of the Journal of Pension Economics and Finance.

Héloïse Labit Hardy, Australian Research Council Centre of Excellence in Population Ageing Research

In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the European System of Financial Supervision (ESFS) is also crafting a framework to supervise regulated financial sector institutions including banks, insurers, pension funds, and asset managers. The implosion of the financial sector has also prompted calls for accounting changes from those seeking to better understand how assets and liabilities are reported. Initially banks were seen by many as the most important focus for regulatory reform, but other institutions are now attracting policymaker attention. There is logic to this in terms of managing systemic risk and ensuring a level playing field that avoids arbitrage between institutional structures. Yet the nature of pension and insurer liabilities is so different from that of bank liabilities that careful attention is needed in drafting appropriate rules. The new rules are having both direct and spill-over effects on retirement systems around the world. The first half of this volume undertakes an assessment of how global responses to the financial crisis are potentially altering how insurers, pension plan sponsors, and policymakers will manage risk in the decades to come. The second half evaluates developments in retirement saving and retirement products, to determine which and how these might help meet shortfalls in retirement provision.
Les mer
The global financial crisis had immediate and profound impacts on pension and insurance company assets intended to finance millions of peoples' retirement. This volume illustrates several ways in which retirement risk management should be conceived of differently from bank practice.
Les mer
I. GLOBAL RISK ASSESSMENT FOR PENSIONS AND ANNUITIES; II. DEVELOPMENTS IN RETIREMENT SAVING AND RETIREMENT PRODUCTS
Timely topic benefitting pension plan participants, administrators and policymakers Contributions from prominent contributors Accessible to wide audience Builds on previous Pension Research Council publications Interdisciplinary appeal; pensions, finance, economics, politics
Les mer
Dr. Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor, Professor of Insurance and Risk Management and Business Economics and Public Policy, Executive Director of the Pension Research Council, and Director of the Boettner Center for Pensions and Retirement Research, all at the Wharton School of the University of Pennsylvania. Dr. Mitchell's main interests are public and private pensions, insurance and risk management, financial literacy, and social insurance. She received her MA and PhD degrees in Economics from the University of Wisconsin-Madison, and her BA in Economics from Harvard University. Raimond Maurer is the Chair of Investment, Portfolio Management, and Pension Finance at the Finance Department of the Goethe University Frankfurt. His research focuses on asset management, life-time portfolio choice, real estate, and pension finance. He serves in several professional capacities including the Union Real Estate Investment group, the Society of Actuaries (academic chairman of AFIR), the Association of Certified International Investment Analysts (academic director and member of the International Examination Committee). He earned his Habilitation, PhD, and Diploma in business administration from Mannheim University, and he was awarded an honorary doctorate from the State University of Finance and Economics of St. Petersburg. Michael Orszag is Head of Research at Willis Towers Watson, a global actuarial consulting firm. His research interests include pensions, personnel economics, risk management, and insurance. He is a founding editor of the Journal of Pension Economics and Finance and co-editor of the Oxford Handbook of Pensions and Retirement Income. He earned his PhD from the University of Michigan in economics and his AB from Princeton University in economics.
Les mer
Timely topic benefitting pension plan participants, administrators and policymakers Contributions from prominent contributors Accessible to wide audience Builds on previous Pension Research Council publications Interdisciplinary appeal; pensions, finance, economics, politics
Les mer

Produktdetaljer

ISBN
9780198787372
Publisert
2016
Utgiver
Oxford University Press
Vekt
484 gr
Høyde
236 mm
Bredde
165 mm
Dybde
18 mm
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
242

Redaktør
Mitchell Olivia S.
Maurer Raimond
Orszag J. Michael

Biografisk notat

Dr. Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor, Professor of Insurance and Risk Management and Business Economics and Public Policy, Executive Director of the Pension Research Council, and Director of the Boettner Center for Pensions and Retirement Research, all at the Wharton School of the University of Pennsylvania. Dr. Mitchell's main interests are public and private pensions, insurance and risk management, financial literacy, and social insurance. She received her MA and PhD degrees in Economics from the University of Wisconsin-Madison, and her BA in Economics from Harvard University. Raimond Maurer is the Chair of Investment, Portfolio Management, and Pension Finance at the Finance Department of the Goethe University Frankfurt. His research focuses on asset management, life-time portfolio choice, real estate, and pension finance. He serves in several professional capacities including the Union Real Estate Investment group, the Society of Actuaries (academic chairman of AFIR), the Association of Certified International Investment Analysts (academic director and member of the International Examination Committee). He earned his Habilitation, PhD, and Diploma in business administration from Mannheim University, and he was awarded an honorary doctorate from the State University of Finance and Economics of St. Petersburg. Michael Orszag is Head of Research at Willis Towers Watson, a global actuarial consulting firm. His research interests include pensions, personnel economics, risk management, and insurance. He is a founding editor of the Journal of Pension Economics and Finance and co-editor of the Oxford Handbook of Pensions and Retirement Income. He earned his PhD from the University of Michigan in economics and his AB from Princeton University in economics.

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