Innovative Approaches to Managing Longevity Risk in Asia: Lessons from the West
AbstractThis paper discusses what is longevity risk, why it is important, approaches used by the West to manage longevity risk, and what lessons can be learnt by Asian countries from the experiences of the West. Increasing and uncertain longevity has emerged as a key risk affecting individuals, pension plans, insurers, and governments in both the developed and emerging world. I discuss progress in the field of longevity modeling and the merits as well as drawbacks of these models. In western countries, attempts have been made by capital market and governments to deal with longevity risk, but the availability of solutions remain limited.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 353.
Length: 27 pages
Date of creation: 13 Apr 2012
Date of revision:
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More information through EDIRC
longevity risk; asia; managing longevity risk; longevity modeling; pension plans;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Private Pensions
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
This paper has been announced in the following NEP Reports:
- NEP-AGE-2012-04-23 (Economics of Ageing)
- NEP-ALL-2012-04-23 (All new papers)
- NEP-SEA-2012-04-23 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pablo Antolin & Hans J. Blommestein, 2007.
"Governments and the Market for Longevity-indexed Bonds,"
Financial Market Trends,
OECD Publishing, vol. 2007(1), pages 153-175.
- Pablo Antolín & Hans J. Blommestein, 2007. "Governments and the Market for Longevity-Indexed Bonds," OECD Working Papers on Insurance and Private Pensions 4, OECD Publishing.
- Pablo Antolín, 2008.
"Ageing and the Payout Phase of Pensions, Annuities and Financial Markets,"
OECD Working Papers on Insurance and Private Pensions
29, OECD Publishing.
- Pablo Antolin, 2008. "Ageing and the payout phase of pensions, annuities and financial markets," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2008(2), pages 1-19.
- Mackenzie,George A. (Sandy), 2006. "Annuity Markets and Pension Reform," Cambridge Books, Cambridge University Press, number 9780521846325, October.
- David E. Bloom & David Canning & Jaypee Sevilla, 2001. "Economic Growth and the Demographic Transition," NBER Working Papers 8685, National Bureau of Economic Research, Inc.
- Pablo Antolin, 2007.
"Longevity Risk and Private Pensions,"
Financial Market Trends,
OECD Publishing, vol. 2007(1), pages 107-128.
- Pablo Antolín, 2007. "Longevity Risk and Private Pensions," OECD Working Papers on Insurance and Private Pensions 3, OECD Publishing.
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