Enhancing Risk Management for an Aging World

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Wharton Pension Research Council Working Papers
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aging
longevity
risk management
Economics
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As the world confronts unprecedented global aging, academics and policymakers are growing increasingly aware of the need for better risk management tools to handle the demographic transition. It is therefore imperative to identify innovative insurance and financial market products that can enrich the range of options for households, firms, and governments facing the challenge of an aging population. After outlining thoughts on how rising longevity might shape financial markets, we discuss opportunities for the finance and insurance industries in this arena. We also highlight how policymakers could respond to improve efforts to better manage risk.

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2017-09-22
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This paper was prepared for presentation at the Geneva Risk Economics Lecture for the European Group of Risk and Insurance Economists (EGRIE) meetings, London, September 18-20, 2017.
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