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BestsellerE-book
Author Milevsky, Moshe Arye, 1967-

Title The calculus of retirement income : financial models for pension annuities and life insurance / Moshe A. Milevsky.

Publication Info. Cambridge : Cambridge University Press, 2006.

Item Status

Description 1 online resource (xiv, 321 pages)
text file
Note Title from e-book title screen (viewed Oct. 16, 2007).
Bibliography Includes bibliographical references and index.
Contents Introduction and motivation -- Modeling the human life-cycle -- Models of human mortality -- Valuation models of deterministic interest -- Models of risky financial investments -- Models of pension life annuities -- Models of life insurance -- Models of DB vs. DC pensions -- Sustainable spending at retirement -- Longevity insurance revisited -- Options within variable annuities -- The utility of annuitization -- Final words.
Summary The book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners.
Local Note eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America
Subject Old age pensions -- Mathematical models.
Old age pensions -- Mathematical models.
Old age pensions.
Annuities -- Mathematical models.
Annuities -- Mathematical models.
Annuities.
Retirement income -- Mathematical models.
Retirement income -- Mathematical models.
Retirement income.
Genre/Form Electronic books.
Other Form: Print version: Milevsky, Moshe Arye, 1967- Calculus of retirement income. Cambridge : Cambridge University Press, 2006 (DLC) 2005029455
ISBN 0511191340 (electronic book)
9780511191343 (electronic book)
0511189966 (electronic book)
9780511189968 (electronic book)
0511191790 (electronic book)
9780511191794 (electronic book)
9780511753855 (electronic book)
0511753853 (electronic book)
0521842581
9780521842587
1280458704
9781280458705
0511190603
9780511190605
0511190921
9780511190926
9780521842587
Standard No. 9780521842587
Report No. MYILIB_CUp