Description: Three corporate leaders prognosticate about the future of the financial-services industry and of U.S. society in general. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4B.

Description: Analyzes whether or not it is a legitimate function of government to regulate financial institutions.

Description: This paper discusses the theoretic framework of modeling captial markets: index-based composition methodology and statisical procedure of model construction and extension: wavelets-based financial signal processing technique. It also discusses the implications and applications, measuring the market uncertainty and volatility highlighting the S&P 500 as an example.

Description: This session from the 1983 SOA Spring Meeting presents competitive forces in the insurance and pension industries and the outlook for the insurance industry over the next five to ten years. It focuses on deregulation, competition and technological development.

Description: This paper is about a concept known as the 'rate of transmission of information' or, more simply, as the 'information rate.' The authors establish the equivalence of arbitrage-free economic systems and a generalized betting model in such a way that the interpretation of the information rate, as the maximum rate of increase of an investor's capital, is preserved. As a corollary to this result, they show that the difference in the information rate between models represents the achievable incremental return associated with the superior predictor model. From Actuarial Research Clearing House 1993, Vol. 3.

Description: The article discusses the sustainability of the ACA individual market from a public entitlement standpoint. A key point of measuring sustainability is the reliance on market forces rather than federal budget constraints. The article explains why an actuarial viewpoint of sustainability is necessary to a greater extent than other public assistance and social insurance programs. The article challenges actuaries to be a bold, objective voice in a space that is full of opinionated but often uninformed viewpoints.

Description: This paper asks the Modligliani-Miller question regarding the mortgage markets. The paper is essentially about the genesis of the credit crisis. The proposed answer is that the practice of risk should not be allowed without actuarial supervision.

Description: Abstract for the 2009 Housing Wealth monograph paper, “Modigliani, Miller and Mortgages.” This paper is essentially about the genesis of the credit crisis. The proposed answer is that the practice of risk should not be allowed without actuarial supervision.

Description: Hybrids of the soft computing SC technologies have been applied to market forecasting and trading rules, and in many cases have demonstrated better performance than competing approaches. The purpose of this research is to investigate a representative group of these applications and to document the manner in which hybrids of the SC technologies were implemented.

Description: This paper investigates the interaction between a credit portfolio and another risk type, which can be thought of as market risk. We analytically calculate their inter-risk correlation and show how inter-risk correlation bounds can be derived.