>>> Download Annuity Markets eBook <<<The Pension Crisis concerns the changing demographic profile of more elderly and fewer youngpeople in the economy. Understanding and tackling this impending crisis is a key task for publicpolicy. An annuity protects an individual from outliving their savings, and is central to pensionspolicy. This book examines the different types of annuities available, how these annuities arepriced, the history of annuities, how annuities markets function: how they work, and are theyefficient. It provides an international comparison of annuity markets, and examines recentdevelopments in annuity markets.Governments around the world are shifting their pensionpolicies away from pay-as-you-go systems towards individual savings schemes. These savingsneed to be converted into a pension at retirement, and annuity markets provide this function.This book is a comprehensive study of annuity markets. The book starts by outlining the contextof public policy towards pensions policy. It then explains the different types of annuitiesavailable, focusing on the US and UK, and how these annuities are priced, examining pricingand reserving methods from an actuarial perspective and also describing mortality measurement.The next two chapters describe the history of annuities, and the experience of annuity marketsin countries other than the UK and US. The book then outlines the theory behind annuites, andexplains how annuities insure consumers against longevity risks. The next chapter describeshow annuities markets function: how they work, and whether they are efficient, leading onto adiscussion of the annuity puzzle. The book concludes by discussing recent developments inannuity markets. About the Author Edmund Cannon is a Senior Lecturer in Economics at theUniversity of Bristol. His research includes work on pension economics; the effect of demographic change on the macroeconomy; endogenous growth theory; and the r??le of financial markets and transport in economic development. He teaches macroeconomics andeconometrics, is Deputy Director of the Economics Network of the Higher Education Academyand has taught at the University of Oxford and the University of Verona. He has acted as aconsultant to the UK water industry and advised the Department of Work and Pensions.Professor Ian Tonks is Director of Xfi Centre for Finance and Investment at the University of Exeter. During the academic year 2006/07 he is Senior Houblon-Norman Fellow at the Bank of England. His research focuses on pension economics; fund manager performance; marketmicrostructure and the organisation of stock exchanges; directors' trading; and the new issuemarket. He has published in leading finance and economics journals, and teaches across allareas of financial economics including asset pricing, corporate finance, market efficiency andperformance measurement. He is a consultant to the Financial Markets Group, and the Centrefor Market and Public Organisation. He has acted as a consultant to a number of commercialand regulatory organisations including the London Stock Exchange, the CompetitionCommission, and the Financial Services Authority, and has advised the Department of Work and Pensions, and the House of Commons Select Committee on issues in pensions.Download Annuity Markets eBook - Click HERE!