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Genre/Form: | Electronic books |
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Additional Physical Format: | Print version: Cannon, Edmund Stuart, 1969- Annuity markets. Oxford ; New York : Oxford University Press, 2008 (DLC) 2008015098 (OCoLC)220859243 |
Material Type: | Document, Internet resource |
Document Type: | Internet Resource, Computer File |
All Authors / Contributors: |
Edmund Stuart Cannon; Ian Tonks; Oxford University Press. |
ISBN: | 9780191550881 0191550884 1281978485 9781281978486 |
OCLC Number: | 316257174 |
Description: | 1 online resource (xix, 295 pages) : illustrations |
Contents: | List of Figures; List of Tables; 1. Introduction and the context of annuity markets; 2. Description of annuity markets; 3. A short history of annuities; 4. Modelling life expectancy; 5. Annuity markets around the world; 6. Money's worth calculations; 7. Annuity demand theory; 8. Reasons for the annuity puzzle; 9. Evidence on the workings of annuity markets; 10. Supply of annuities; 11. Conclusions; Glossary; Bibliography; Index. |
Responsibility: | Edmund Cannon and Ian Tonks. |
Abstract:
Reviews
Publisher Synopsis
`As the baby boomers begin to retire from 2010, an understanding of the role and importance of annuities has never been more needed. This is because they are the only financial instrument ever devised that can hedge longevity risk. More than half the world's life annuities are sold in the UK, and two of the UK's leading experts have written this timely book on annuities. It will become a standard reference.'David Blake, Professor of Pension Economics at Cass Business School `Converting savings into sustainable spending is fast becoming the major challenge for the baby boomers. This book provides a great source of information on annuities from both an actuarial science and behavioural economics perspective and on how we can help meet this need.'Tom Boardman, Director of Retirement Strategy, Prudential `The shift from defined benefit to defined contribution pension plans, in both the public and private sectors and around the world, has drawn new attention to the long-standing problem of insuring against longevity risk in retirement. This volume provides a superb introduction to the operation of current annuity markets and the economic analysis of these markets.'James Poterba, Mitsui Professor of Economics, MIT and President, National Bureau of Economic Research Read more...

