Governments and the Market for Longevity-indexed Bonds:
Uncertainty about length of life, longevity risk, is a growing financial problem for pension funds and annuity providers. Unfortunately, there is a lack of financial instruments to hedge against this longevity risk, thereby complicating risk management by pension funds and hindering the expansion of...
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| Format: | Electronic Book Chapter |
| Language: | English |
| Published: |
Paris
OECD Publishing
2007
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| Subjects: | |
| Online Access: | DE-384 DE-473 DE-824 DE-29 DE-739 DE-355 DE-20 DE-1028 DE-1049 DE-521 DE-861 DE-898 DE-92 DE-91 DE-573 DE-19 Volltext |
| Summary: | Uncertainty about length of life, longevity risk, is a growing financial problem for pension funds and annuity providers. Unfortunately, there is a lack of financial instruments to hedge against this longevity risk, thereby complicating risk management by pension funds and hindering the expansion of the annuity market. Consequently, this paper examines the role of government in promoting a private market solution for longevity hedging financial products. Governments could in principle improve the market for annuities by issuing longevity-indexed bonds and by producing a longevity index. The paper argues that the first public policy role is hampered by the fact that governments are themselves already exposed to significant longevity risk. However, governments could take other steps such as producing a reliable longevity index |
| Physical Description: | 1 Online-Ressource (28 Seiten) |
| DOI: | 10.1787/fmt-v2007-art8-en |
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| spelling | Antolin, Pablo Verfasser aut Governments and the Market for Longevity-indexed Bonds Pablo Antolin and Hans J. Blommestein Paris OECD Publishing 2007 1 Online-Ressource (28 Seiten) txt rdacontent c rdamedia cr rdacarrier Uncertainty about length of life, longevity risk, is a growing financial problem for pension funds and annuity providers. Unfortunately, there is a lack of financial instruments to hedge against this longevity risk, thereby complicating risk management by pension funds and hindering the expansion of the annuity market. Consequently, this paper examines the role of government in promoting a private market solution for longevity hedging financial products. Governments could in principle improve the market for annuities by issuing longevity-indexed bonds and by producing a longevity index. The paper argues that the first public policy role is hampered by the fact that governments are themselves already exposed to significant longevity risk. However, governments could take other steps such as producing a reliable longevity index Finance and Investment Blommestein, Hans J... ctb https://doi.org/10.1787/fmt-v2007-art8-en Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Antolin, Pablo Governments and the Market for Longevity-indexed Bonds Finance and Investment |
| title | Governments and the Market for Longevity-indexed Bonds |
| title_auth | Governments and the Market for Longevity-indexed Bonds |
| title_exact_search | Governments and the Market for Longevity-indexed Bonds |
| title_exact_search_txtP | Governments and the Market for Longevity-indexed Bonds |
| title_full | Governments and the Market for Longevity-indexed Bonds Pablo Antolin and Hans J. Blommestein |
| title_fullStr | Governments and the Market for Longevity-indexed Bonds Pablo Antolin and Hans J. Blommestein |
| title_full_unstemmed | Governments and the Market for Longevity-indexed Bonds Pablo Antolin and Hans J. Blommestein |
| title_short | Governments and the Market for Longevity-indexed Bonds |
| title_sort | governments and the market for longevity indexed bonds |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/fmt-v2007-art8-en |
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