demographic risk affecting these types of pension funds. A model for the evolution of the fund is presented considering the … pensions, we propose a risk indicator based on the relationship between contributions and pensions.In particular we focus on …

This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate …

This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate …

minimize the risk of becoming underfunded. …

government risk facing investors in medical innovation. This risk slows down medical innovation because investors must be …&D investors to better share the pipeline risk associated with FDA approval with broader capital markets. Using historical FDA … from offering them. Using various unique data sources, we find that FDA approval risk has a low correlation across drug …

the risk of equities goes away in the long run. Until there is a recognition that equities are not a match for the fixed …

Pricing and risk management for longevity risk has increasingly become a major challenge for life insurers and pension … funds around the world. Risk transfer to financial markets, with their major capacity for efficient risk pooling, is an area … of significant development for a successful longevity product market. The structuring and pricing of longevity risk using …