We study the valuation of variable annuities for an insurer. We concentrate on two types of these contracts that are the guaranteed minimum death benefits and the guaranteed minimum living benefits ones and that allow the insured to withdraw money from the associated account. As for many...

Sustainable development remains high on the international agenda, even as policy makers are distracted by the political and fiscal fall-out of the global financial crisis. Its continued prominence is illustrated by various countries use of fiscal stimulus to fast-track the greening of the...