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Author Alier, N. (Max)

Title Personal pension plans and stockmarket volatility [electronic resource] / Max Alier and Dimitri Vittas.

Published Washington, DC : World Bank, Development Research Group, Finance, [2000]


Location Call No. Status
Series Policy research working paper ; 2463
Policy research working papers ; 2463.
World Bank e-Library.
Notes "October 2000"--Cover.
Title from title screen as viewed on Oct. 05, 2002.
Bibliography Includes bibliographical references (p. 50-51).
Summary Personal pension plans transfer investment risk to participating workers and expose them to the volatility of financial returns. Simple financial strategies lower the volatility of replacement rates but at a significant cost in terms of lower replacement rates. The purchase of valuable annuities reduces the dispersion of replacement rates across generations without lowering their level.
Other formats Also available in print.
Other author Vittas, Dimitri.
World Bank. Development Research Group. Finance.
Subject Annuities.
Pension trusts -- Investments.
Rate of return.
Stocks -- Prices.