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Könyv Growing Old Gracefully Thomas Purcal

Growing Old Gracefully

Optimal Financial Behaviour over a Stochastic Life Cycle

Szerző: Thomas Purcal
Nyelv: Angol
Kötés: Puha kötésű
Kiadó: VDM Verlag Dr. Müller
Elérhetőség: Kiadói készleten rendelésre
Küldés 17-27 napon belül
27 310 Ft
The aim of this work is to investigate an §individual''s optimal life cycle behaviour, with §particu...

Információk a könyvről

Szerző
Thomas Purcal
Nyelv
Angol
Kötés
Könyv - Puha kötésű
Kiadva
2009
oldal
208
EAN
9783639115550
Enbook ID
06820410
Kiadó
VDM Verlag Dr. Müller
Súly
290
Méretek
150 x 220 x 11

Teljes leírás

The aim of this work is to investigate an §individual''s optimal life cycle behaviour, with §particular reference to financial decisions made §over time. How should one consume, save, invest, §insure and annuitise over one''s life? In chapter 3 §we implement a model of lifetime personal financial §planning. By simulating this theoretical model of§lifetime personal financial planning we are able to§quantitatively assess popular financial advice. We §examine age-phasing as well as a traditional rule of §thumb for life insurance purchase. Our modelling §also sheds light on the reasons for the thinness of §voluntary life annuity markets worldwide. Chapter 4 §extends the model, examining the implications for §individual optimal behaviour if either borrowing is §constrained, no annuity market exists, or mean §reversion and persistence are present in equity §returns. Chapter 5 considers the important question §of determining optimal consumption, investment and §life insurance/annuity demand over the life cycle in §an environment where labour income is no longer §deterministic but stochastic.

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