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    A portfolio approach to the optimal funding of pensions

    Dutta, J. and Kapur, Sandeep and Orszag, M. (2000) A portfolio approach to the optimal funding of pensions. Economics Letters 69 (2), pp. 201-206. ISSN 0165-1765.

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    Abstract

    Fully funded pension systems are advocated for their higher rate of return, but this return is typically risky. Using a simple mean-variance model, we find that mixed funded–unfunded systems are desirable in this setting because they enable risk diversification.

    Metadata

    Item Type: Article
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 07 Jul 2020 08:22
    Last Modified: 07 Jul 2020 08:22
    URI: http://eprints.bbk.ac.uk/id/eprint/32469

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