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Money Supply, Inflation And The Nigerian Economy, Paul A. Ogwuma
Money Supply, Inflation And The Nigerian Economy, Paul A. Ogwuma
Bullion
Experience in many countries, including Nigeria, show that fiscal policies, in particular, intended primarily to stimulate output growth and enhance real income often end up as a major source of financial imbalances and macro-economic instability. The accompanying high inflation has critical allocative and distributional implications that can be detrimental to the growth process. It is against this background that, this short paper attempts, to identify the relationship between monetary growth and inflationary developments in Nigeria and the implications for economic growth. Following this Introduction, Thus, the challenge of maintaining monetary stability has often been a difficult one, the world over, …
Annuity Choices For Pensioners, Zaki M. Khorasanee
Annuity Choices For Pensioners, Zaki M. Khorasanee
Journal of Actuarial Practice (1993-2006)
We consider two ways for a retiree to obtain a pension from a retirement fund: through the purchase of a whole life annuity providing a level monetary income; and through the withdrawal of income from a fund invested in equities. Deterministic and stochastic models are used to assess the risks and benefits associated with each approach. In each case the projected cash flows are compared with those from a whole life annuity providing an income linked to price inflation. We conclude that, although each of the two options conSidered involves significant risks, each method may be attractive to certain groups …
A Proposal For Improving The System Of Financing Health Care In Singapore, Robert Keng Heong Lian, Loi Soh Loi
A Proposal For Improving The System Of Financing Health Care In Singapore, Robert Keng Heong Lian, Loi Soh Loi
Journal of Actuarial Practice (1993-2006)
Like many other countries, including the United States, Singapore faces the dual problems of rising health care costs and an aging population. To cope with these problems, the Singapore government introduced the Medishield scheme in 1989 that provides low cost catastrophic medical insurance coverage. The scheme suffers from a serious deficiency, however: coverage ceases at age 70. This deficiency is exacerbated by Medishield's premium payment structure which is akin to the premium structure of a one year renewable term policy so no reserves are developed. As a result, coverage beyond age 70 requires exorbitant premiums that are beyond the reach …