Author: Andrew McDiarmid Publisher: Taylor & Francis ISBN: 1040251625 Category : Business & Economics Languages : en Pages : 120
Book Description
From the last decades of the seventeenth century until the beginning of the twentieth, the tontine, in one form or another, was a ubiquitous financial instrument. As a revenue-raising tool of governments it supported the cost of war, and as a private capital-raising instrument it provided funding for civic improvement and urban development projects. While the tontine is known today mainly through fictional works (Robert Louis Stevenson, Agatha Christie, and The Simpsons among others), this book tells the history of how it evolved from a public revenue-raising scheme into a popular private investment and infrastructure financing tool, before it was displaced by cheaper forms of borrowing. Focusing on the early development of the tontine, and with European and North American case studies, the narrative brings to life the story of a little-understood financial innovation. This concise and engaging book is an ideal introduction to the history of the tontine for all readers interested in financial history.
Author: Moshe A. Milevsky Publisher: Cambridge University Press ISBN: 1107076129 Category : Business & Economics Languages : en Pages : 275
Book Description
The book reviews the finance, economics, and history of tontines, and argues that they should be resurrected in the twenty-first century.
Author: Richard K. Fullmer Publisher: CFA Institute Research Foundation ISBN: 1944960767 Category : Business & Economics Languages : en Pages : 54
Book Description
Tontines and similar mortality-pooled investment arrangements offer a useful and unique value proposition to the global retirement challenge.
Author: Moshe A. Milevsky Publisher: Cambridge University Press ISBN: 1316407314 Category : Business & Economics Languages : en Pages : 275
Book Description
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 A. 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.
Author: Moshe Arye Milevsky Publisher: Springer Nature ISBN: 3031009282 Category : Business & Economics Languages : en Pages : 169
Book Description
This open access book introduces the modern tontine and its applications in retirement and decumulation. Personal financial management in the later stages of life presents unique challenges, and renowned retirement planning expert Dr. Milevsky proposes the modern tontine as a solution. With the goal of guiding professionals and retirees in more efficient decumulation, the book demonstrates how to build a modern tontine. It is technically oriented, employing a cookbook format, featuring R code, and examining retirement planning through a statistical lens. This how-to guide, which is a sequel to his 2020 book “Retirement Income Recipes in R”, will be invaluable for retirement planning professionals and advisors, as well as for PhD scholars in retirement planning, quantitative finance, and related fields. This book is open access.
Author: OECD Publisher: OECD Publishing ISBN: 9264015299 Category : Languages : en Pages : 392
Book Description
This publication presents the proceedings of a conference that took stock of achievements China has made in agricultural finance and credit infrastructure and discussed how China could best address future challenges in this area.
Author: Andrew McDiarmid
Author: Moshe A. Milevsky
Author: Richard K. Fullmer
Author: Moshe A. Milevsky
Author: Moshe Arye Milevsky
Author: Cornelius Walford
Author: OECD
Author: 
Author: Glen Alexander Finlaison
Author: United States Department of State. Bureau of African Affairs