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<DIV>This book provides valuable information and analysis to managers, policymakers, and investment counselors in the rapidly expanding field of pension funding. American workers, too, need answers and insights on how to invest their money and plan for their retirement. fifteen of America's leading...</div>
Persistent link: https://www.econbiz.de/10011156311
<DIV>In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in...</div>
Persistent link: https://www.econbiz.de/10011156340
AbstractOne of the ironies of the current global financial crisis is that the very innovations designed to mitigate risks in the past few decades have been blamed for causing the huge losses in wealth. But it is not the innovations that caused the cascade of losses that began in 2008; it was...
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Finance is a branch of economics that deals with budgeting, saving, investing, borrowing, lending, insuring, diversifying, and matching. In setting standards of financial literacy we ought to make sure they are consistent with the basic principles taught in economics courses. In section I of...
Persistent link: https://www.econbiz.de/10010761826
This paper sets out an analytical framework for optimal asset allocation of sovereign wealth, based on the theory of contingent claims analysis applied to the sovereigns economic balance sheet. A country solves an asset-liability management problem involving its sources of income and its...
Persistent link: https://www.econbiz.de/10010772253
This paper uses a model of the valuation of bonds bearing call options, together with observed market yields on callable bonds, to infer information about the uncertainty associated with interest rate expectations. A dynamic programming solution of the model simultaneously determines both the...
Persistent link: https://www.econbiz.de/10010859277
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