Description: Applies the economic concept of negative externality (where firms profit but create unacceptable social costs) to systemic of financial institutions. Identifies alternatives to the traditional (Pigou) response of taxing the firm.

Description: Abstract: A model for analyzing the probability and severity of default of sovereign entities and banks. The methodology analyzes the risks inherent in the investment of debt of sovereign governments and large financial institutions side-by-side, taking into consideration macroeconomic interactions among the sovereign fiscal and monetary authorities, the financial institutions, and the real economy. The signature aspect of the methodology is that it adapts a Merton-style default model to use explicit measures of sovereign assets and asset volatility.

Description: This discussion at the 1968 Philadephia and Los Angeles Regional Meetings is about currency devaluation in other countries and the effects it has on life insurance, pension funds and company operations in the U.S.

Description: This paper examines the development of inflation and the dilemma the life insurance business faces. From Transactions of Society of Actuaries 1958, Vol. 10, No. 28.

Description: Abstract: A model for analyzing the probability and severity of default of sovereign entities and banks. The methodology analyzes the risks inherent in the investment of debt of sovereign governments and large financial institutions side-by-side, taking into consideration macroeconomic interactions among the sovereign fiscal and monetary authorities, the financial institutions, and the real economy. The signature aspect of the methodology is that it adapts a Merton-style default model to use explicit measures of sovereign assets and asset volatility.

Description: This article discusses how pension accounting has an impact on the personal savings rate.

Description: This session is about the methods of projecting long-run stock returns using inflation rates from bond yield curves with incremental returns for risk taking based on historical data and the relationship between concurrent, expected and unexpected inflation rates and the rates of return on common stocks and U.S. government bonds and notes. From Record of Society of Actuaries Vol. 5, No. 4.

Description: This is a panel discussion session from the 1980 SOA Fall Meeting. It discusses the North American economy and how the economy will react during the '80s. From Record of Society of Actuaries 1980, Vol. 6, No. 4.

Description: This is a discussion of indexed coverages for individual contracts. It covers such topics as the history of indexed coverage in the U.S. and Canada and other countries and the possibilities for the ideal fully-indexed permanent life insurance and disability income plans.

Description: This session from the 1984 Toronto Meeting discusses the pressures generated by the U.S. deficit on the U.S. and other countries, the trade scene and U.S. policies such as deregulation. From Record of the Society of Actuaries Vol. 10, No. 4