Working Away From Home–The Longer-term Option

Option-Implied Term Structures

The illiquidity of long-maturity options has made it difficult to study the term structures of option spanning portfolios. This paper proposes a new estimation and inference framework for these option-implied term structures that addresses long-maturity illiquidity. By building a sieve estimator around the risk-neutral valuation equation, the framework theoretically justifies (fattailed) extrap...

Does living longer in good health facilitate longer working lives? The relationship between disability and working lives.

BACKGROUND Improvements in life expectancy have fuelled debates about the statutory retirement age in many European countries. This article contributes to this debate by investigating how changes in disability may influence both employment outcomes and disability-free life expectancy. METHODS We used data from the European Community Household Panel to estimate the impact of disability inciden...

Term 'flash sterilization' to go away.

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This chapter introduces the Random Modulation Pre-Integrator (RMPI) and details the status of an integrated circuit implementing the architecture. To our knowledge, this is the first full-speed hardware RMPI in existence. The goal of this chapter is to describe some key parameters of the RMPI that are essential to its performance. This is not a hardware chapter and does not go into detail of th...

Deliverable D 4 Longer Term Options