Growing Old Gracefully : Optimal Financial Behaviour over a Stochastic Life Cycle
Language: English
Published by VDM Verlag Dr. Müller, 2009
- Softcover
- New
Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH
AbeBooks seller since August 14, 2006
Condition: New
£ 98.82
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Add to basketItem description from seller
nach der Bestellung gedruckt Neuware - Printed after ordering - 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 oflifetime personal financial planning we are able toquantitatively 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. …
Seller Inventory # 9783639115550
- Title
- Growing Old Gracefully : Optimal Financial Behaviour over a Stochastic Life Cycle
- Author
- Thomas Purcal
- Publisher
- VDM Verlag Dr. Müller
- Publication year
- 2009
- Condition
- Neu
- Binding
- Taschenbuch
- Language
- English
- ISBN 10
- 3639115554
- ISBN 13
- 9783639115550
- Item weight
- 290 grams
- Dimensions
- 220x150x11 mm
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