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The calculus of retirement income : financial models for pension annuities and life insurance /
The book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Cambridge :
Cambridge University Press,
2006.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | The book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners. |
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| Notas: | Title from e-book title screen (viewed Oct. 16, 2007). |
| Descripción Física: | 1 online resource (xiv, 321 pages) |
| Bibliografía: | Includes bibliographical references and index. |
| ISBN: | 0511191340 9780511191343 0511189966 9780511189968 0511191790 9780511191794 9780511753855 0511753853 0521842581 9780521842587 1280458704 9781280458705 0511190603 9780511190605 0511190921 9780511190926 |