Description: In this paper, we investigate the dynamics of the Lee-Carter mortality index parameter kt. Specifically, we perform statistical hypothesis tests to examine whether the mortality indexes for Canada, England and Wales and the United States are best described by stochastic trends difference stationary models or deterministic trends trend stationary models. The empirical results favor broken-trend stationary models over difference stationary models, which are used in most previous applications of the Lee-Carter method. The results also give strong statistical evidence that the rates of mortality decline for the three populations have significantly accelerated in mid-1970s.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This study investigates whether simulation-based models can be used to predict liquidity risk for banks, which must comply with Basel III by January 2015. The paper looks at the process of developing a measurement framework using Black-Scholes and Merton’s asset-based models to measure liquidity risk.

Description: This paper introduces the author's globalization model of work and retirement in the 21st century. To make the model work, there is a need for a prototype social security system with many desirable features called National Provident Fund for each nation.

Description: Part Two of a 3 part discussion of: Social Security System for the 21st Century. This part outlines some of the key characteristics of the viable social security system of the 21st century.

Description: A discussion of the market opportunities for offering Stable Value Funds across the world.

Description: This articles summarizes the four strategic questions which are the focus of the White Paper on International Strategy and Initiatives.

Description: This article presents the results of a survey of financial assumptions contained in 2003 embedded value reports. The purpose of the survey is to provide international actuaries with benchmark assumption data. From International Section News, October 2004, Issue No. 34.

Description: An advertisement for the 6th annual conference in Actuarial Science and Finance on Samos.

Description: In this article, a Canadian actuary describes his first year working internationally in Serbia, Washington, D.C., and the United Kingdom.

Description: In this article, the author discusses the global ERM credential.