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Intergenerational Risk Sharing In The Spirit Of Arrow Debreu And Rawls With Applications To Social Security Design
Download Intergenerational Risk Sharing In The Spirit Of Arrow Debreu And Rawls With Applications To Social Security Design full books in PDF, epub, and Kindle. Read online Intergenerational Risk Sharing In The Spirit Of Arrow Debreu And Rawls With Applications To Social Security Design ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis The New Financial Order by : Robert J. Shiller
Download or read book The New Financial Order written by Robert J. Shiller and published by Princeton University Press. This book was released on 2004-07-26 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this compelling and important new book, the author of the bestselling "Irrational Exuberance" presents a fresh vision for hedging risk and securing our economic future.
Book Synopsis Intergenerational Risksharing and Equilibrium Asset Prices by : John Y. Campbell
Download or read book Intergenerational Risksharing and Equilibrium Asset Prices written by John Y. Campbell and published by . This book was released on 2006 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the presence of overlapping generations, markets are incomplete because it is impossible to engage in risksharing trades with the unborn. In such an environment the government can use a social security system, with contingent taxes and benefits, to improve risksharing across generations. An interesting question is how the form of the social security system affects asset prices in equilibrium. In this paper we set up a simple model with two risky factors of production: human capital, owned by the young, and physical capital, owned by all older generations. We show that a social security system that optimally shares risks across generations exposes future generations to a share of the risk in physical capital returns. Such a system reduces precautionary saving and increases the risk-bearing capacity of the economy. Under plausible conditions it increases the riskless interest rate, lowers the price of physical capital, and reduces the risk premium on physical capital.
Book Synopsis Pension Fund Risk Management by : Marco Micocci
Download or read book Pension Fund Risk Management written by Marco Micocci and published by CRC Press. This book was released on 2010-01-25 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integr
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :120 pages Book Rating :4.:/5 (327 download)
Book Synopsis Nominations of N. Gregory Mankiw, Steven B. Nesmith, Jose F. Teran, James Broaddus, Paul D. Pate, Lane Carson, and C. Morgan Edwards by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Nominations of N. Gregory Mankiw, Steven B. Nesmith, Jose F. Teran, James Broaddus, Paul D. Pate, Lane Carson, and C. Morgan Edwards written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2004 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimizing the Aging, Retirement, and Pensions Dilemma by : Marida Bertocchi
Download or read book Optimizing the Aging, Retirement, and Pensions Dilemma written by Marida Bertocchi and published by John Wiley & Sons. This book was released on 2010-02-08 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: A straightforward guide focused on life cycle investing-namely aging, retirement, and pensions Life cycle investing and the implications of aging, retirement, and pensions continues to grow in importance. With people living longer, the relative and absolute number of retirees is growing while the number of workers contributing to pension funds is declining. This reliable resource develops a detailed economic analysis-at the micro (individual) and macro (economy wide) levels-which addresses issues regarding the economics of an aging population. Topics touched upon include retirement and the associated health care funding of the aged as well as social security and the asset classes that are considered asset-liability choices over time. The probability of achieving adequate return patterns from various investment strategies and asset classes is reviewed Shares rich insights on the aging, retirement, and pensions dilemma An assessment of the resources the real economy will be able to commit to non-workers is provided The three pillars of retirement are social security, company pensions, and private savings. Each of these pillars is confronted with a variety of asset-liability problems, and this book will addresses them.
Book Synopsis Recreating Sustainable Retirement by : Olivia S. Mitchell
Download or read book Recreating Sustainable Retirement written by Olivia S. Mitchell and published by . This book was released on 2014 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. The book offers an in-depth analysis of the 'black swans' that threaten private and public pensions around the world such as 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.
Book Synopsis Foundations of Modern Macroeconomics by : Ben J. Heijdra
Download or read book Foundations of Modern Macroeconomics written by Ben J. Heijdra and published by Oxford University Press. This book was released on 2017-08-25 with total page 1353 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of macroeconomics can seem a daunting project. The field is complex and sometimes poorly defined and there are a variety of competing approaches. It is easy for the senior bachelor and starting master student to get lost in the forest of macroeconomics and the mathematics it uses extensively. Foundations of Modern Macroeconomics is a guide book for the interested and ambitious student. Non-partisan in its approach, it deals with all the major topics, summarising the important approaches and providing the reader with a coherent angle on all aspects of macroeconomic thought. Each chapter deals with a separate area of macroeconomics, and each contains a summary section of key points and a further reading list. Using nothing more than undergraduate mathematical skills, it takes the student from basic IS-LM style macro models to the state of the art literature on Dynamic Stochastic General Equilibrium, explaining the mathematical tricks used where they are first introduced. Fully updated and substantially revised, this third edition of Foundations of Modern Macroeconomics now includes brand new chapters covering highly topical subjects such as dynamic programming, competitive risk sharing equilibria and the New Keynesian DSGE approach.
Book Synopsis Macroeconomic Analysis by : Dirk Niepelt
Download or read book Macroeconomic Analysis written by Dirk Niepelt and published by MIT Press. This book was released on 2019-12-31 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise but rigorous and thorough introduction to modern macroeconomic theory. This book offers an introduction to modern macroeconomic theory. It is concise but rigorous and broad, covering all major areas in mainstream macroeconomics today and showing how macroeconomic models build on and relate to each other. The self-contained text begins with models of individual decision makers, proceeds to models of general equilibrium without and with friction, and, finally, presents positive and normative theories of economic policy. After a review of the microeconomic foundations of macroeconomics, the book analyzes the household optimization problem, the representative household model, and the overlapping generations model. It examines risk and the implications for household choices and macroeconomic outcomes; equilibrium asset returns, prices, and bubbles; labor supply, growth, and business cycles; and open economy issues. It introduces frictions and analyzes their consequences in the labor market, financial markets, and for investment; studies money as a unit of account, store of value, and medium of exchange; and analyzes price setting in general equilibrium. Turning to government and economic policy, the book covers taxation, debt, social security, and monetary policy; optimal fiscal and monetary policies; and sequential policy choice, with applications in capital income taxation, sovereign debt and default, politically motivated redistribution, and monetary policy biases. Macroeconomic Analysis can be used by first-year graduate students in economics and students in master's programs, and as a supplemental text for advanced courses.
Book Synopsis Financial Economics of Insurance by : Ralph S.J. Koijen
Download or read book Financial Economics of Insurance written by Ralph S.J. Koijen and published by Princeton University Press. This book was released on 2023-04-04 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative and comprehensive graduate textbook on the modern insurance sector The traditional role of insurers is to insure idiosyncratic risk through products such as life annuities, life insurance, and health insurance. With the decline of private defined benefit plans and government pension plans around the world, insurers are increasingly taking on the role of insuring market risk through minimum return guarantees. Insurers also use more complex capital management tools such as derivatives, off-balance-sheet reinsurance, and securities lending. Financial Economics of Insurance provides a unified framework to study the impact of financial and regulatory frictions as well as imperfect competition on all insurer decisions. The book covers all facets of the modern insurance sector, guiding readers through its complexities with empirical facts, institutional details, and quantitative modeling. An up-to-date textbook for graduate students in economics, finance, and insurance Covers a broad range of topics, including insurance pricing, contract design, reinsurance, portfolio choice, and risk management Provides promising new directions for future research Can be taught in courses on asset pricing, corporate finance, industrial organization, and public economics An invaluable resource for policymakers seeking an empirical and institutional account of today’s insurance sector
Book Synopsis Redistributive Taxation in Dynamic General Equilibrium with Heterogeneous Agents by : Putz, Christian
Download or read book Redistributive Taxation in Dynamic General Equilibrium with Heterogeneous Agents written by Putz, Christian and published by University of Bamberg Press. This book was released on 2019 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Practical Applications of Medical Geology by : Malcolm Siegel
Download or read book Practical Applications of Medical Geology written by Malcolm Siegel and published by Springer Nature. This book was released on 2021-08-01 with total page 932 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume provides a framework for integrating methods and information drawn from geological and medical sciences and provides case studies in medical geology to illustrate the usefulness of this framework for crafting environmental and public health policies related to natural materials. The relevance of medical geology research to policy decisions is a topic rarely discussed, and this volume attempts to be a unique source for researchers and policy makers in the field of medical geology in addressing this gap in practical medical geology applications. The book's four sections establish this framework in detail using risk assessment, case studies, data analyses and specific medical geology techniques. Following an introduction to medical geology in the context of risk assessment and risk management, the second section discusses specific methods used in medical geology in the categories of geoscience, biomedicine, and data sources. The third section discusses the medical geology of natural materials, energy use, and environmental and workplace impacts. This section includes specific case studies in medical geology, and describes how the methods and data from the previous section are used in a medical geology analysis. The fourth section includes a guide to the medical geology literature and provides some examples of medical geology programs in Asia and Africa.
Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Journal of Political Economy by :
Download or read book The Journal of Political Economy written by and published by . This book was released on 2007 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Ageing, Health and Pensions in Europe by : Lans Bovenberg
Download or read book Ageing, Health and Pensions in Europe written by Lans Bovenberg and published by Springer. This book was released on 2010-10-27 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing an overview of the future research challenges for economists and social scientists concerning population ageing, pensions, health and social care in Europe, this book examines how scientific research can provide cutting-edge evidence on income security and well-being of the elderly, and labour markets and older workers.
Book Synopsis On the Fiscal Implications of Twin Crises by : Craig Burnside
Download or read book On the Fiscal Implications of Twin Crises written by Craig Burnside and published by . This book was released on 2001 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the implications of different strategies for financing the fiscal costs of twin crises for inflation and depreciation rates. We use a first-generation type model of speculative attacks which has four key features: (i) the crisis is triggered by prospective deficits; (ii) there exists outstanding non-indexed government debt issued prior to the crises; (iii) a portion of the government's liabilities are not indexed to inflation; and (iv) there are nontradable goods and costs of distributing tradable goods, so that purchasing power parity does not hold. We show that the model can account for the high rates of devaluation and moderate rates of inflation often observed in the wake of currency crises. We use our model and the data to interpret the recent currency crises in Mexico and Korea. Our analysis suggests that the Mexican government is likely to pay for the bulk of the fiscal costs of its crisis through seignorage revenues. In contrast, the Korean government is likely to rely more on a combination of implicit and explicit fiscal reforms.
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2001 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The 'new Keynesian' Phillips Curve by : Assaf Razin
Download or read book The 'new Keynesian' Phillips Curve written by Assaf Razin and published by . This book was released on 2001 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper extends Woodford's (2000) analysis of the closed economy Phillips curve to an open economy with both commodity trade and capital mobility. We show that consumption smoothing, which comes with the opening of the capital market, raises the degree of strategic complementarity among monopolistically competitive suppliers, thus rendering prices more sticky and magnifying output responses to nominal GDP shocks.
