Using RBOs and Megafunds to Hedge Longevity Risk and Specialty Drug Costs
Roger M. Stein
The Journal of Alternative Investments Due Diligence 2022, 24 (3) 99-123; DOI: https://doi.org/10.3905/jai.2021.1.151
Roger M. Stein
teaches finance and machine learning at New York University Stern School of Business in New York, NY
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The Journal of Alternative Investments
Vol. 24, Issue 3
Due Diligence 2022
Using RBOs and Megafunds to Hedge Longevity Risk and Specialty Drug Costs
Roger M. Stein
The Journal of Alternative Investments Dec 2021, 24 (3) 99-123; DOI: 10.3905/jai.2021.1.151
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- Article
- Abstract
- Pension Payers Face Increasing Longevity Risk
- Example 1. The Cost of a Life-Extending Drug for a Pension Fund
- Health Benefits Providers Face Increasing Reimbursement Risk
- Example 2. The Cost of a Life-Extending Drug for a Pension Fund
- Research-Backed Obligations (RBOs) as Hedges
- ANNUITIES, LONGEVITY RISK, AND RESEARCH-BACKED OBLIGATIONS
- HEDGING SOME FORMS OF LONGEVITY RISK
- EXTENDING THE FRAMEWORK TO “HEDGE” REIMBURSEMENT RISK FOR HEALTH INSURERS
- SIMULATIONS
- CONCLUSION
- ACKNOWLEDGMENTS
- ENDNOTES
- REFERENCES
- Supplemental
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