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The Resource King William's tontine : why the retirement annuity of the future should resemble its past, Moshe Milevsky, (electronic resource)

King William's tontine : why the retirement annuity of the future should resemble its past, Moshe Milevsky, (electronic resource)

Creator
Summary
In a time before bonds, treasury notes, or central banks, there were tontines. These were schemes in which a group of investors lent money to a government, corporation, or king, similar to a modern-day loan syndicate. But unlike conventional debt, periodic interest payments were distributed only to survivors. As tontine nominees died, the income of survivors correspondingly increased. Morbid, perhaps, but this was one of the earliest forms of longevity insurance in which the pool shared the risk. Moshe Milevsky tells the story of the first tontine issued by the English government in 1693, known as King William's tontine, intended to finance the war against French King Louis XIV. He explains how tontines work, the financial and economic thinking behind them, as well as why they fell into disrepute. Milevsky concludes with a provocative argument that suitably modified tontines should be resurrected for twenty-first century retirement income planning--
Language
eng
Work
Publication
Extent
1 online resource (274 pages)
Contents
  • 1 - King Billy, Protestant Hero of England 2 - Tontine's Economic Origins: Cheaper Debt 3 - A Most Curious Will(iam) and Older Than You Think 4 - The Million Act to Fight a War against France 5 - Don't Englishmen Die? Anti-Selection vs. Fraud 6 - Is Your Tontine a Stock or a Bond? 7 - Optimal Tontine: Hedging (Some) Longevity Risk 8 - Conclusion: Tontines for the Twenty-First Century Epilogue: What Did William Really Know? Appendix A - The List of Nominees Appendix B - The Gompertz-Makeham Law of Mortality Appendix C - 14% for One, 12% for Two, or 10% for Three?
Isbn
9781107430754
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1017/CBO9781139879316
Instance
Label
King William's tontine : why the retirement annuity of the future should resemble its past
Title
King William's tontine
Title remainder
why the retirement annuity of the future should resemble its past
Statement of responsibility
Moshe Milevsky
Creator
Subject
Language
eng
Summary
In a time before bonds, treasury notes, or central banks, there were tontines. These were schemes in which a group of investors lent money to a government, corporation, or king, similar to a modern-day loan syndicate. But unlike conventional debt, periodic interest payments were distributed only to survivors. As tontine nominees died, the income of survivors correspondingly increased. Morbid, perhaps, but this was one of the earliest forms of longevity insurance in which the pool shared the risk. Moshe Milevsky tells the story of the first tontine issued by the English government in 1693, known as King William's tontine, intended to finance the war against French King Louis XIV. He explains how tontines work, the financial and economic thinking behind them, as well as why they fell into disrepute. Milevsky concludes with a provocative argument that suitably modified tontines should be resurrected for twenty-first century retirement income planning--
Assigning source
Provided by Publisher
Cataloging source
UkCbUP
http://library.link/vocab/creatorDate
1967-
http://library.link/vocab/creatorName
Milevsky, Moshe Arye
Index
index present
Literary form
non fiction
Nature of contents
dictionaries
Series statement
Cambridge books online
http://library.link/vocab/subjectName
  • Tontine life insurance policies
  • Retirement income
Label
King William's tontine : why the retirement annuity of the future should resemble its past, Moshe Milevsky, (electronic resource)
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1017/CBO9781139879316
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Contents
1 - King Billy, Protestant Hero of England 2 - Tontine's Economic Origins: Cheaper Debt 3 - A Most Curious Will(iam) and Older Than You Think 4 - The Million Act to Fight a War against France 5 - Don't Englishmen Die? Anti-Selection vs. Fraud 6 - Is Your Tontine a Stock or a Bond? 7 - Optimal Tontine: Hedging (Some) Longevity Risk 8 - Conclusion: Tontines for the Twenty-First Century Epilogue: What Did William Really Know? Appendix A - The List of Nominees Appendix B - The Gompertz-Makeham Law of Mortality Appendix C - 14% for One, 12% for Two, or 10% for Three?
Control code
CR9781139879316
Extent
1 online resource (274 pages)
Form of item
  • online
  • electronic
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9781107430754
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
digital, PDF file(s)
Specific material designation
remote
System control number
(OCoLC)908633331
Label
King William's tontine : why the retirement annuity of the future should resemble its past, Moshe Milevsky, (electronic resource)
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1017/CBO9781139879316
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Contents
1 - King Billy, Protestant Hero of England 2 - Tontine's Economic Origins: Cheaper Debt 3 - A Most Curious Will(iam) and Older Than You Think 4 - The Million Act to Fight a War against France 5 - Don't Englishmen Die? Anti-Selection vs. Fraud 6 - Is Your Tontine a Stock or a Bond? 7 - Optimal Tontine: Hedging (Some) Longevity Risk 8 - Conclusion: Tontines for the Twenty-First Century Epilogue: What Did William Really Know? Appendix A - The List of Nominees Appendix B - The Gompertz-Makeham Law of Mortality Appendix C - 14% for One, 12% for Two, or 10% for Three?
Control code
CR9781139879316
Extent
1 online resource (274 pages)
Form of item
  • online
  • electronic
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9781107430754
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
digital, PDF file(s)
Specific material designation
remote
System control number
(OCoLC)908633331

Subject

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