The financial crisis and the ensuing Great Recession alerted those seeking to protect old-age security, about the extreme risks confronting the financial and political institutions comprising our retirement system.
The workforce of today and tomorrow must count on longer lives and deferred retirement, while at the same time it is taking on increased responsibility for managing retirement risk. This volume explores new ways to think about, manage, and finance longevity risk, capital market risk, model risk, and regulatory risk.
This volume offers an in-depth analysis of the 'black swans' that threaten private and public pensions around the world. Capital market shocks, surprises to longevity, regulatory/political risk, and errors in modelling, will all have profound consequences for stakeholders ranging from pension plan participants, plan sponsors, policymakers, and those who seek to make retirement more resistant. This book analyzes such challenges to retirement sustainability, and it explores ways to better manage and finance them. Insights provided help build retirement systems capable of withstanding what the future will bring.
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This volume offers an in-depth analysis of the threats to private and public pensions around the world including capital market shocks, surprises to longevity, regulatory/political risk, and errors in modelling. By examining how to manage such risks, this book has important implications for pension designers, fiduciaries, and policy makers.
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CAPITAL MARKET AND MODEL RISK ; LONGEVITY RISK ; REGULATORY AND POLITICAL RISK ; IMPLICATIONS FOR PLAN SPONSORS
Timely topic benefitting pension plan participants, administrators and policymakers
Assesses various risks faced by private and public pensions
Interdisciplinary appeal; pensions, finance, economics, politics
International appeal
Contributions by leading academic and professional experts
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Olivia S. Mitchell is International Foundation of Employee Benefit Plans Professor of Insurance/Risk Management, Professor of Business Economics/Public Policy, Executive Director of the Pension Research Council, and Director of the Boettner Center for Pensions and Retirement Research at the Wharton School. Concurrently Dr. Mitchell is a Research Associate at the National Bureau of Economic Research and a Co-Investigator for the Health and Retirement Study at the
University of Michigan. Her main areas of research and teaching are pensions, insurance and risk management, public finance, and labor markets, with an international focus. She received her B.A. in
Economics from Harvard University and her M.A. and Ph.D. degrees in Economics from the University of Wisconsin-Madison. Raimond Maurer holds the endowed Chair of Investment, Portfolio Management, and Pension Finance in the Finance Department at the Goethe University of Frankfurt. His research focuses on asset management, life-time portfolio choice, and pension finance. He serves in professional capacities for the Society of Actuaries, the Association of Certified International Investment
Analysts, and the Advisory Board of the Wharton School's Pension Research Council. He received his habilitation, his Ph.D., and his Diploma in business from Mannheim University.
P. Brett Hammond, is the Managing Director and Head of Index Applied Research at MSCI Inc.
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Timely topic benefitting pension plan participants, administrators and policymakers
Assesses various risks faced by private and public pensions
Interdisciplinary appeal; pensions, finance, economics, politics
International appeal
Contributions by leading academic and professional experts
Les mer
Produktdetaljer
ISBN
9780198719243
Publisert
2014
Utgiver
Oxford University Press
Vekt
632 gr
Høyde
235 mm
Bredde
162 mm
Dybde
24 mm
Aldersnivå
UU, UP, P, 05, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
334