Purchasing-Power Annuities: Financial Innovation for Stable Real Retirement Income in an Inflationary Environment

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Zvi Bodie;
(1980)

This paper is organized as follows: The first part of the paper introduces the topic. In the next part, we explore the inadequacies of conventional and equity-based variable annuities in an inflationary environment by contrasting them with a hypothetical PPA. We then tr... View more
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