Abstract
Traditional approaches to asset-liability management have evolved substantially in recent years. Unfortunately, even the sophisticated, multi-period approaches in common use neglect important features of the underlying economic problem. This chapter describes a new approach to asset-liability management that combines four key elements, one of which is quite new to the finance literature.
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© 2011 Dan diBartolomeo
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diBartolomeo, D. (2011). The Discretionary Wealth Hypothesis in an Arbitrage-Free Term Structure Approach to Asset-Liability Management. In: Mitra, G., Schwaiger, K. (eds) Asset and Liability Management Handbook. Palgrave Macmillan, London. https://doi.org/10.1057/9780230307230_17
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DOI: https://doi.org/10.1057/9780230307230_17
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32573-3
Online ISBN: 978-0-230-30723-0
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