Discounting Trillions of Dollars in Pension Obligations: A Better Alternative to Using the Expected Return or Risk-Free Rate
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- Aleksandar Andonov & Rob M.M.J. Bauer & K.J. Martijn Cremers, 2017. "Pension Fund Asset Allocation and Liability Discount Rates," The Review of Financial Studies, Society for Financial Studies, vol. 30(8), pages 2555-2595.
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More about this item
Keywords
Discount rate; Pension fund obligations; valuation future obligations;All these keywords.
JEL classification:
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-AGE-2022-04-25 (Economics of Ageing)
- NEP-RMG-2022-04-25 (Risk Management)
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