The safety of a 4% initial withdrawal strategy depends on asset return assumptions. Using
historical averages to guide simulations for failure rates for retirees spending an inflation-…

Focusing on a “safe withdrawal rate” and then deriving a “wealth accumulation target” to
achieve by the retirement date may not be the best way to approach retirement planning. Such a …

Shortfall risk retirement income analyses offer little insight into how much risk is optimal, and
how risk tolerance affects retirement income decisions. This study models retirement …

This paper provides an investigation of the impacts of pension funds on capital market
development, both for stock markets and bond markets. For the overall sample of countries, we …

Understanding the monetary transmission mechanism is crucial to central bankers. We
analyze the monetary transmission mechanism in Vietnam, using the vector autoregression …

This study explores the issue of what is an appropriate default equity glide-path for client
portfolios during the retirement phase of the life cycle. We find, surprisingly, that rising equity …

Numerous studies about sustainable withdrawal rates from retirement savings have been
published, but they are overwhelmingly based on the same underlying data for US asset …

We identify determinants of elderly poverty in Vietnam using household survey data from
2004. The elderly living in urban and rural areas face significantly different conditions. Some …

Demographic and economic characteristics have been shown to provide important predictive
power for determining a country's success in the Olympic Games. This paper extends such …

A line of recent studies cast doubt on the efficacy of the lifecycle investment strategy, which
calls for switching into a more conservative investment portfolio as retirement approaches, as …