It is now an accepted fact that stochastic mortality – the risk that future trends in mortality are different from those anticipated – is an important risk factor in both life insurance and pensions. As a risk factor it affects how we calculate fair values, premium rates, and risk reserves. In this paper we discuss theoretical frameworks and models for pricing mortality derivatives and valuing ...

Abstract Using the government-sponsored enterprises’ sharp securitization rules, this paper provides evidence that, in aftermath of natural disasters, lenders are more likely to approve mortgages that can be securitized, thereby transferring climate risk. The identification strategy uses time-varying conforming loan limits above which enterprises do not securitize mortgages. Natural disasters l...

In this paper, we investigate the pressures placed upon English teaching by neo-nationalist politics, particularly as it overlays existing neoliberal constraints. We focus on experiences and perspectives of Brazilian teachers who are committed to critical language education even carries increasing risks themselves. Interviews with five used illustrate ways in which their work is regulated throu...