Immunization of Pension Funds and Sensitivity to Actuarial Assumptions: Comment

A 1980 article by Keintz and Stickney outlined a bond duration method for immunizing pension plans from market rate risk. Unexpected alterations in market rates cause offsetting changes in pension assets and liabilities. They employed Macaulay's bond duration formula to demonstrate how these op...

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Veröffentlicht in:	The Journal of risk and insurance 1981-03, Vol.48 (1), p.148-153
1. Verfasser:	Thompson, A. Frank
Format:	Artikel
Sprache:	eng
Schlagworte:	Bonds Business holdings Business risks Callable securities Communications & Notes Corporate bonds Discount rates Employee turnover Financial instruments Immunization Interest rates Investment return rates Investments Investors Liability Maturity Pension funds Pension liabilities Pension plans Rates of return Risk Yield
Online-Zugang:	Volltext
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