Effective convexity

The convexity of a bond calculated using cash flows that change with yields.

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For the case of a big change in mortality (22.5 percent and 25 percent shifts), we further include the concept of effective convexity for the immunization strategy and calculate the optimal product mix, [[omega].sup.*.sub.life] = [D.sup.annuity.sub.e[mu]] + [DELTA][mu]/2 [C.sup.annuity.sub.e[mu]]/[D.sup.annuity.sub.e[mu]] + [D.sup.life.sub.e[mu]] + [DELTA][mu]/2 (C.sup.annuity.sub.e[mu]] - [C.sup.life.sub.e[mu]]), under second-order approximations.

An optimal product mix for hedging longevity risk in life insurance companies: the immunization theory approach

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Effective Capital Transfer Strategy
Effective Care Research Unit
Effective Casualty Radius
effective center
Effective Channel Length
Effective Character Level
Effective circulating volume
Effective circulating volume
Effective circulating volume
Effective circulating volume
Effective Cleaning Radius
Effective Clutter Region
Effective Code Length
Effective Communities Project
Effective Compensation
Effective Compensation, Incorporated
effective compliance
effective compliance
effective compliance
effective compliance
effective compliance
Effective Compliance and Ethics Program
effective computable
Effective Concentration
effective conduction-band edge
effective confusion area
effective conjugate
Effective Content Address Memory
Effective Contrast Ratio
Effective Control of Manpower
Effective convexity
Effective Core Potential
Effective Core Potential Augmented by Core Polarization Potential
Effective Corneal Refractive Diameter
Effective Corporate Tax Rate
Effective Cost per Click
Effective Cost per Mille
Effective CPM
effective Ct50
Effective Cumulative Dose
effective current
Effective Current Source Model
Effective Cut-Off Diameter
effective damage
effective damage
Effective data transfer rate
Effective date
Effective date
Effective Date Concerning Morning Report
Effective Date of Award
Effective Date of Change
Effective Date of Change of Strength Accountability
Effective Date of Contract
Effective Date of Federal Recognition
Effective Date of Initial Gain to Strength
Effective Date of Key
Effective Date of Release from Training
Effective Date of Termination
Effective Date of Training
Effective Date Unit Enters Federal Active Duty
Effective Date-Time-Group
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