Cuantificación de la pérdida de bienestar asociada a la imposición de carteras de las administradoras de fondos de retiro
The restrictions imposed by the regulatory authorities on the composition of retirement-fund portfolios are aimed at avoiding opportunistic behavior on the part of retirement-fund managers. However, these restrictions reduce the welfare of the shareholders of such funds. In this paper, the welfare loss associated with different possible restrictions I is quantified. In order to do this, we apply efficient mathematical programming techniques to quickly obtain optimal portfolios given these exogenous constraints. We include a numerical example in order to make the effect of such constraints more clear.
Year of publication: |
1999
|
---|---|
Authors: | Accinelli, Elvio ; Piria, Alfredo ; Tempone, Raúl |
Published in: |
Estudios Económicos. - Centro de Estudios Económicos. - Vol. 14.1999, 1, p. 129-153
|
Publisher: |
Centro de Estudios Económicos |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Accinelli, Elvio, (1999)
-
Accinelli, Elvio, (1999)
-
Accinelli, Elvio, (1999)
- More ...