Security in Retirement: Forecasting and Managing Macro Investment Risks

澳大利亚央行前行长伊恩•麦克法兰（Ian Macfarlane）在他的博耶尔讲座（Boyer Lectures）中指出，曾经由雇主或政府承担的风险，正在向家庭转移。退休收入就是一个很好的例子。大多数家庭不仅属于将投资风险转移给成员的积累基金，而且典型账户中对成长型资产（股票和房地产）的敞口在60% - 70%之间，即使是退休人员也是如此。我们的项目将侧重于经济风险的预测和管理，与特定公司的投资附带的股权风险或信用风险不同。

In his Boyer Lectures Ian Macfarlane, former RBA governor, observed that risks once borne by employers or governments are in the process of being transferred to households. Retirement incomes are a case in point. Not only do most households belong to accumulation funds which shift investment risks to members, but exposure to growth assets (equities and property) in the typical account is in the 60% - 70% range, even in the case of retirees. Our project will focus on the forecasting and management of economy-wide risks, as distinct from the equity risks or credit risks attached to investments in particular companies.