The Role of Inflation-Indexed Bond in Optimal Management of Defined Contribution Pension Plan During the Decumulation Phase

This paper investigates the optimal investment strategy for a defined contribution (DC) pension plan during the decumulation phase which is risk-averse and pays close attention to inflation risk.The plan aims to maximize the expected constant relative here risk aversion (CRRA) utility from the terminal real wealth by investing the fund in a financi

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