Valuation, Optimal Asset Allocation and Retirement Incentives of Pension Plans
نویسندگان
چکیده
منابع مشابه
Valuation, Optimal Asset Allocation and Retirement Incentives of Pension Plans
We provide a framework in which we link the valuation and asset allocation policies of defined benefits plans with the lifetime marginal productivity schedule of the worker and the pension plan formula. In turn, we examine the retirement policies that are implied by the primitives of the model and the value of pension obligations. Our model provides an explicit valuation formula for a stylized ...
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ژورنال
عنوان ژورنال: Review of Financial Studies
سال: 1997
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/10.3.631