Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities
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Retirees must draw down their accumulated assets in an orderly fashion, so as not to exhaust their funds too soon. We compare alternative phased withdrawal strategies to a life annuity benchmark using German data; one particular phased withdrawal rule seems attractive, as it offers relatively low
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美国国家经济研究局创建时间：
2005-04-01
