This article reviews the methodological aspects of the revaluation index of Spanish pensions developed following Law 23/2013 which regulates the sustainability factor and revaluation index of the Social Security pension system.From a gradual breakdown of the elements that make up the revaluation...

When it comes to modeling dependent random variables, not surprisingly, the multivariate normal distribution has received the most attention because of its many appealing properties. However, when it comes to practical implementation, the same family of distribution is often rejected for...

This article reviews the methodological aspects of the revaluation index of Spanish pensions developed following Law 23/2013 which regulates the sustainability factor and revaluation index of the Social Security pension system. From a gradual breakdown of the elements that make up the...

In this paper we analyze how the optimal consumption, investment and life insur- ance rules are modified by the introduction of a class of time-inconsistent preferences. In particular, we account for the fact that an agents preferences evolve along the planning horizon according to her...

Spanish Abstract: En este artículo revisamos los aspectos metodológicos del índice de revalorizacion de las pensiones españolas desarrollado a traves de la Ley 23/2013, reguladora del Factor de Sostenibilidad y del Índice de Revalorizacion del Sistema de Pensiones de la Seguridad Social. A...

In this paper we analyze how the optimal consumption, investment and life insurance rules are modified by the introduction of a class of time-inconsistent preferences. In particular, we account for the fact that an agent’s preferences evolve along the planning horizon according to her...

Consumption, portfolio and life insurance rules are studied for an investor with an arbitrary but known distribution of lifetime with time-inconsistent preferences. Solutions are found for naive and sophisticated agents for the family of CARA and CRRA utility functions. Effects of non-constant...