Professor David Blake

Professor of Finance & Director of Pensions Institute

Bayes Business School , Finance

Contact

About

Overview

Dr David Blake is a Professor in the Faculty of Finance at City St George's, University of London; Director of the Pensions Institute; and Chairman of Square Mile Consultants, a training and research consultancy. He is also: Co-Founder with JPMorgan and Towers Watson of the LifeMetrics Indices; Senior Research Associate, Financial Markets Group, London School of Economics; Senior Consultant, UBS Pensions Research Centre, London School of Economics; and Research Associate, Centre for Risk & Insurance Studies, University of Nottingham Business School. Formerly Director of the Securities Industry Programme at City University Business School; Research Fellow at both the London Business School and the London School of Economics; and Professor of Financial Economics at Birkbeck College, University of London. David Blake was a student at the London School of Economics in the 1970s and early 1980s, gaining his PhD on UK pension fund investment behaviour in 1986. In 1996, he established the Pensions Institute (www.pensions-institute.org).

David chaired the Independent Review of Retirement Income which published its Report (We Need a National Narrative: Building a Consensus around Retirement Income,pensions-institute.org/IRRIReport.pdf) and response to the consultation (pensions-institute.org/IRRIConsultation.pdf) in March 2016.

Qualifications

  • PhD in Financial Economics, London School of Economics, United Kingdom, January 1986
  • MSc(Econ) in Monetary Economics, London School of Economics, United Kingdom, 1978
  • BSc(Econ) in Economics, London School of Economics, United Kingdom, 1975

Fellowships

  • Fellow, Higher Education Academy, August 2000 - present

Memberships of professional organisations

  • Member, Royal Economic Society

Awards

  • American Risk and Insurance Association (2016). Robert I. Mehr Award
    2016 Robert I. Mehr Award for “A Two-Factor Model for Stochastic Mortality with Parameter Uncertainty: Theory and Calibration” (with Andrew J. G. Cairns and Kevin Dowd) published in the December 2006 issue of the Journal of Risk and Insurance, the journal of the American Risk and Insurance Association. The Robert I. Mehr Award is presented each year for the paper published in the JRI ten years before that has best stood the test of time.
  • Asset International Chief Investment Officer (2013). aiCIO's The Professors
    aiCIO's (asset international Chief Investment Officer’s) The Professors: The Ten Most Influential Academics in Institutional Investing 2013 (These academics have significantly aided pensions, endowments, foundations, and sovereign wealth funds, as well as institutional investors who are fulfilling their obligations to stakeholders)
  • Pensions Insight Magazine (2012). One of the 50 most influential people in Pensions
    Professor David Blake named as one of the 50 most influential people in pensions for the second year in a row. Professor David Blake has been recognised for his contribution to the pensions debate by being listed as one of the 50 most influential people in the UK pensions industry by Pensions Insight magazine. The list highlights the 50 individuals who the editorial team at Pensions Insight believe are influencing pensions today and shaping them for tomorrow. Professor Blake is the only academic recognised in this list which is also made up of both high profile spokespeople and those working quietly behind the scenes. Professor Blake is described in the publication as being "…one of the most significant pensions researchers and analysts working in the UK." He is also recognised for establishing the Pensions Institute at City University of London and co-founding the LifeMetrics Indices, an index to benchmark and trade longevity risk, developed in association with JP Morgan. Commenting on the list, Professor Blake said: "It is gratifying to see that my work and the work of the Pensions Institute is being recognised by the pensions industry. I am honoured to be sharing a position on a list of such highly esteemed experts." A current Visiting Professor at the Pensions Institute (Robin Ellison) and two former Visiting Professors (David Willetts MP and Steve Webb MP) are also included in the list of 50.
  • American Risk and Insurance Association (2011). Robert I. Mehr Award
    Mehr Award for 'Survivor Bonds: Helping to Hedge Mortality Risk' published in the June 2001 issue of the Journal of Risk and Insurance David Blake, Professor in the Finance Faculty of City University of London, has been selected as this year's recipient of the prestigious Robert I. Mehr Award for his article 'Survivor Bonds: Helping to Hedge Mortality Risk' The award is given annually to the article that has best stood the test of time during its ten-year release and has had an impact in the field of risk and insurance. The paper was published in the June 2001 Issue of The Journal of Risk and Insurance, which is the Journal of the American Risk and Insurance Association (ARIA). Professor Blake's paper is credited with developing a new global capital market (the 'Life Market') in mortality risk transfers between pension funds, life assurers and capital market investors and caused a knock-on effect in the industry. Timeline: • 2001: David Blake and William Burrows publish: 'Survivor Bonds: Helping to Hedge Mortality Risk' which suggests the creation of 'survivor bonds' which would allow pension funds and the issuers of annuities to hedge aggregate mortality risk. • 2003: The first mortality catastrophe bond creates the 'Life Market' • 2006: The world's first pension buy-out • 2007: The world's first pension buy-in and first longevity swap • 2010: The world's first longevity bond issued, while a Dutch pension fund performs the first pension buy-in outside the UK • 2011: A Canadian pension fund executes the first pension buy-out outside the UK and the first international longevity reinsurance transaction takes place between Rothesay Life in the UK and Prudential Retirement in the US. ARIA is the premier professional association of insurance scholars and risk management and insurance professionals. The award presentation will take place at their annual meeting which is recognized as the top event each year for academics and researchers in the field of risk management and insurance. The meeting takes place from the 7th-10th August in the beautiful city of San Diego, California. The keynote speaker at the event will be Nobel Laureate Harry Markowitz, winner of the John von Neumann Theory Prize and the Nobel Memorial Prize in Economic Sciences. Professor Blake, who is also Director of the Pensions Institute, said: "I am delighted to receive the Robert I. Mehr Award from the American Risk and Insurance Association in recognition of the fact that my paper 'Survivor Bonds: Helping to Hedge Mortality Risk' (co-authored with William Burrows) has stood the test of time. I was very pleased when the Journal of Risk and Insurance agreed to publish the paper in 2001. I am even more pleased to see that this paper led to the development of a new global capital market in mortality risk transfers between pension funds, life assurers and capital market investors."

Expertise

Primary topics

  • Annuities
  • Pension Funds

Research

My research has supported the introduction and growth of the Life Market, a new global capital market for transferring longevity risk from corporate pension plans and annuity providers to capital market investors in exchange for a risk premium. The main vehicles for transferring this risk are longevity (or survivor) swaps and bonds, designed by the Pensions Institute at Cass and its research collaborators. The world’s first longevity swap was between the UK insurer Lucida (which locked in a fixed future mortality rate on its annuities) and investors (who pay/receive the difference between the actual and fixed rate) which was arranged by the investment bank JP Morgan in 2008. The world’s first longevity bond in 2010 was between SwissRe and investors who receive back a lower principal repayment if SwissRe’s longevity exposure increases above a preset level.

Research topics

Measurement, modelling and management of longevity risk

Securitization of longevity exposures

Multi-population mortality modelling

Age-dependent investing: Optimal funding and investment strategies in defined contribution pension plans when members are rational life-cycle financial planners

New evidence on mutual fund out-performance using alternative bootstrap methods

Using behavioural economics to improve retirement expenditure solutions

Research students

Alec Findlater

Attendance: October 2019 - present

Thesis title: Retirement Income

Andrew Hunt

Attendance: October 2010 - present, full-time

Thesis title: Mortality Modelling at the Pension Plan Level

Role: 1st Supervisor

Y (Jason) Zhang

Attendance: October 2004 - present, full-time

Thesis title: Optimal Plan Design and Dynamic Asset Allocation of Defined Contribution Pension Plans

Role: 1st Supervisor

Publications

Books (9)

  1. Reynolds, B., Blake, D. and Lyddon, R. (2020). Managing Euro Risk: Saving Investors from Systemic Risk. London, UK: Politeia. ISBN 9781916357518.
  2. Blake, D. (2015). Pension economics.
  3. Blake, D. (2015). Issues in Pension Funding. Routledge. ISBN 9781138020757.
  4. Blake, D. (2014). Modelling Pension Fund Investment Behaviour. Routledge. ISBN 9781138018570.
  5. Blake, D. (Ed.), (2012). Pension Finance. Wiley. ISBN 9780470058435.
  6. Blake, D. (2006). Pension Economics. Wiley. ISBN 9780470058442.
  7. Blake, D. (2006). Pension Finance. John Wiley & Sons. ISBN 9780470058701.
  8. Blake, D. (2005). Pension Schemes and Pension Funds in the United Kingdom. Oxford University Press. ISBN 9780199243532.
  9. Blake, D. (2000). Financial Market Analysis. John Wiley & Sons. ISBN 9780471877288.

Chapters (26)

  1. Blake, D. (2016). Chapter 1: Introduction from “We Need a National Narrative: Building a Consensus around Retirement Income”, the Report of the Independent Review of Retirement Income. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 29-60). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  2. Blake, D. (2016). Chapter 2: How to ensure that savers can get the best products in retirement. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 61-198). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  3. Blake, D. (2016). Chapter 3: Supporting savers to make the right choice at retirement for them and their family and how to build on the lessons of auto-enrolment. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 199-436). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  4. Blake, D. (2016). Chapter 4: Helping savers to manage longevity risk. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 437-468). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  5. Blake, D. (2016). Chapter 5: The role of the National Employment Savings Trust in helping savers to access good quality retirement products. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 469-490). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  6. Blake, D. (2016). Chapter 6: The role of collective pension schemes and how these could be introduced in the UK. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 491-538). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  7. Blake, D. (2016). Chapter 7: Conclusion: Developing a National Narrative. In Blake, D. (Ed.), We Need a National Narrative: Building a Consensus around Retirement Income (pp. 539-595). London, UK: Independent Review of Retirement Income. ISBN 9780993561511.
  8. Blake, D., Lehmann, B.N. and Timmermann, A. (2016). Performance Clustering and Incentives in the UK Pension Fund Industry. Asset Management (pp. 63-94). Springer International Publishing. ISBN 9783319307930.
  9. Blake, D. (2015). Portfolio Performance Measurement. (pp. 1-6). Wiley. ISBN 9781119972518.
  10. Coughlan, G., Blake, D., MacMinn, R., Cairns, A.J.G. and Dowd, K. (2013). Longevity Risk and Hedging Solutions. Handbook of Insurance (pp. 997-1035). Springer New York. ISBN 9781461401544.
  11. Blake, D. (2012). NDCs vs FDC: Pros and Cons. In Holzmann, R., Palmer, E. and Robalino, D. (Eds.), NDC Pension Schemes in a Changing Pension World, Volume 2: Gender, Politics, and Financial Stability, Closing Panel - Chapter 15 Washington D.C.: The World Bank & Swedish Social Insurance.
  12. Blake, D., Cairns, A. and Dowd, K. (2011). Optimal Investment Strategies in Defined Contribution Pension Plans. In Mitra, G. and Schwaiger, K. (Eds.), Asset and Liability Management Handbook (pp. 234-279). Palgrave Macmillan.
  13. Blake, D. and Biffis, E. (2010). Mortality-Linked Securities and Derivatives. In Bertocchi, M., Schwartz, S.L. and Ziemba, W.T. (Eds.), Optimizing the Aging, Retirement and Pensions Dilemma John Wiley & Sons. ISBN 9780470377345.
  14. Blake, D. and Harrison, D. (2009). What is a Life Settlement? In Bhuyan, V.B. (Ed.), Life Markets: Trading Mortality and Longevity Risk with Life Settlements & Linked Securities John Wiley & Sons. ISBN 9780470412343.
  15. Blake, D. and Harrison, D. (2009). The Ethics of Profiting from Mortality. (pp. 233-244). Wiley. ISBN 9780470412343.
  16. Blake, D. and Dowd, K. (2008). Securitization/Life. Wiley. ISBN 9780470035498.
  17. Cairns, A.J.G., Blake, D. and Dowd, K. (2008). Optimal Dynamic Asset Allocation for Defined Contribution Pension Plans. In Appleby, J.A.D., Edelman, D.C. and Miller, J.J.H. (Eds.), (pp. 83-85). CHAPMAN & HALL/CRC PRESS. ISBN 9781584889250.
  18. Blake, D. and Dowd, K. (2008). Securitization/Life. In Melnick, E. and Everitt, B. (Eds.), Encyclopedia of Quantitative Risk Assessment and Analysis (pp. 1623-1627). Chichester: John Wiley and Sons.
  19. Blake, D. (2008). Its all Back to Front: Critical Issues in the Design of Defined Contribution Pension Plans. In Broeders, D., Eijffinger, S. and Houben, A. (Eds.), Frontiers in Pension Finance (pp. 99-159). Edward Elgar. ISBN 9781847206602.
  20. Blake, D. (2004). Contracting Out of the State Pension System: The British Experience of Carrots and Sticks. In Rein, M. and Schmael, W. (Eds.), Rethinking the Welfare State: The Political Economy of Pension Reform (pp. 19-55). Edward Elgar, Cheltenham. ISBN 9781843761020.
  21. Blake, D. (2003). The United Kingdom Pension System: Key Issues. In Noriyuki Takayama, (Ed.), Taste of Pie: Searching for Better Pension Provisions in Developed Countries Maruzen, Tokyo..
  22. Blake, D. and Timmermann, A. (2002). Performance Benchmarks for Institutional Investors: Measuring, Monitoring and Modifying Investment Behaviour. In Knight, J. and Satchell, S. (Eds.), Performance Measurement in Finance: Firms, Funds and Managers (pp. 108-141). Butterworth Heinemann, Oxford.
  23. Blake, D. (2002). The United Kingdom: Examining the Switch from Low Public Pensions to High-Cost Private Pensions. In Feldstein, M. and Siebert, H. (Eds.), Social Security and Pension Reform in Europe (pp. 317-348). University of Chicago Press. ISBN 9780226241081.
  24. Blake, D., Burrows, W. and Orszag, J.M. (2001). Survivor Bonds and Compulsory Annuitisation: Two Ways of Helping the Private Sector Reduce the Costs of Pensions Provision. In Bodie, Z., Hammond, B. and Mitchell, O.S. (Eds.), Innovations for Managing the Risks of Retirement University of Pennsylvania Press. ISBN 9780812236415.
  25. Blake, D. (1997). Pension Choice and Pensions Policy in the United Kingdom. In Valdés-Prieto, S. (Ed.), The Economics of Pensions: Principles, Policies and International Experience (pp. 277-317). Cambridge University Press. ISBN 9780521666121.
  26. Blake, D. (1993). Pension Schemes and Pension Funds in the United Kingdom: Regulatory Environment, Public Policy, Issues in Pension Fund Management and Consequences for Capital Markets. In Porta, A. (Ed.), Pension Funds and Capital Markets: International Experience (pp. 105-187). Milan: EGEA.

Conference papers and proceedings (70)

  1. Blake, D., Cairns, A., Coughlan, G., Dowd, K. and MacMinn, R. The New Life Market. .doi:10.1111/j.1539-6975.2012.01514.x
  2. Blake, D. (2012). Nudges and Networks: How to Use Behavioural Economics to Improve the Life-Cycle Savings-Consumption Balance. FIAP International Seminar 2012: Opportunities and Challenges for Individually-Funded Systems in a Globalised World 31 May-1 June, Cancun, Mexico.
  3. Blake, D. and Boardman, T. (2012). Spend More Today: Using Behavioural Economics to Improve Retirement Expenditure Decisions. Distribution of Retirement Solutions in the �At-Retirement� Market, Tax-Incentivised Savings Association (TISA) Seminar London.
  4. Blake, D. (2011). Longevity as an Asset Class. 4th Financial Risks International Forum on Long Term Risks Paris.
  5. Blake, D. (2011). Reforming Health and Pension Spending. IMF Conference on Controlling Public Spending in Advanced Economies, Rome.
  6. Blake, D. and Boardman, T. (2011). Using Behavioural Economics to Improve Retirement Expenditure Decisions. Pensions Intelligence Seminars.
  7. Blake, D. (2011). Annuities: Why they are so important and why they are so difficult to provide. Special Seminar on Annuities and Pensions celebrating 50th Anniversary of OECD Mexico City.
  8. Blake, D. (2011). Derisking Pension Plans using Financial Solutions. Pensions, Benefits and Social Security Section Colloquium (PBSS) 2011 Edinburgh.
  9. Blake, D. (2011). Impact of Demographic Challenges and the Sovereign Debt Crisis on Social Protection Systems. Workshop on the World Economic Forum's Project Developing Future Social Protection Systems London.
  10. Blake, D. (2011). Longevity as an Asset Class. 15th International Congress on Insurance: Mathematics and Economics Trieste.
  11. Blake, D. (2010). Longevity as an Asset Class. Deutscher Investment-Hochschultag: BVI Conference Frankfurt.
  12. Blake, D. (2010). Longevity as an Asset Class. World Bank Global Symposium on Pension and Sovereign Fund Investments Dubai.
  13. Blake, D. (2010). Longevity Risk in Pension Plans: Measuring, Modelling and Managing. Eighth Annual Capital Matters: Managing Labor's Capital Conference Harvard University.
  14. Blake, D. (2010). Panel on 21st Century DC. FT Pensions Summit London.
  15. Blake, D. (2010). Pension Liability Risks: Manage or Sell? 17th Regional Pension and Provident Fund Conference Nicosia, Cyprus.
  16. Blake, D. (2010). Pensions and the labour market. Work Foundation Panel on Pensions Manchester.
  17. Blake, D. (2010). Should Multinationals Consider Longevity Solutions? Pensions Forum Paris.
  18. Blake, D. and Boardman, T. (2010). SPEEDOMETER Plans Spending Optimally Throughout Retirement. Second Annual Financial Times UK Retirement Summit.
  19. Blake, D. (2010). The New Life Market in London. Sixth City of London Biennial Meeting.
  20. Blake, D. (2010). The Real Lessons of the Global Banking Crisis. Private Capital and the Road to a Developed Economy, Ningbo-Nottingham International Finance Forum Ningbo, China.
  21. Blake, D. (2010). UK Government Should Issue Longevity Bonds to Mitigate Longevity Risk. Professional Pensions Investment Conference 2010 London.
  22. Blake, D. (2010). What is the Appropriate Accounting and Regulatory Framework for Pension Funds? World Bank Global Symposium on Pension and Sovereign Fund Investments Dubai.
  23. Blake, D. (2010). Why Governments Should Issue Longevity Bonds. UK Pensions & Investments Summit 2010 London.
  24. Blake, D. (2010). Why Governments Should Issue Longevity Bonds. Why Governments Should Issue Longevity Bonds Bank of Italy.
  25. Blake, D. (2010). At Retirement, New Opportunities, but at What Cost? Second Annual Financial Times UK Retirement Summit.
  26. Blake, D. (2010). Behavioural issues in long-term savings. Policy Exchange Panel on Long-Term Savings Birmingham.
  27. Blake, D. (2010). Behavioural issues in savings. The Economist's Financial Services Summit 2010 London.
  28. Blake, D. (2010). Decumulation Issues in DC Pension Plans. Bocconi University Conference on Protecting Pension Fund Members in Italy Milan.
  29. Blake, D. (2010). From Survivor Bonds to Life Settlements Securitisation. Private Capital and the Road to a Developed Economy, Ningbo-Nottingham International Finance Forum Ningbo, China.
  30. Blake, D. (2009). NDC v FDC: Pros & Cons. World Bank Conference: Non-Financial Defined Contribution (NDC) Systems: Progress and New Frontiers in a Changing Pension World Sweden.
  31. Blake, D. and Boardman, T. (2009). Why Governments Should Issue Longevity Bonds. Longevity 5: Fifth International Longevity Risk & Capital Markets Solutions Conference New York.
  32. Blake, D. and Kevin Dowd, A.C. (2009). A Gravity Model of Mortality Rates for Two Populations. Longevity 5: Fifth International Longevity Risk & Capital Markets Solutions Conference New York.
  33. Blake, D. and Andrew Cairns, K.D. (2009). Bayesian Stochastic Mortality Modelling for Two Populations. Longevity 5: Fifth International Longevity Risk & Capital Markets Solutions Conference New York.
  34. Blake, D. and Boardman, T. (2009). Decumulation of Assets in the Current Economic Climate. Decumulation of Assets, The Impact of the Economic Downturn London.
  35. Blake, D. (2009). Investing During Decumulation. NAPF Investment Conference 2009 Edinburgh.
  36. Blake, D. (2009). Is the Structure of Government Funding Right either for the Economy or as a Source of Instruments for Long-Term Savings? 17th Gleneagles Savings and Pensions Industry Leaders' Summit Gleneagles.
  37. Blake, D. (2009). The New Life Market. IAA AFIR/Life Colloquium 2009 Munich.
  38. Blake, D. (2009). The New Life Market. Living Longer in Good Health Netspar Theme Event Tilburg.
  39. Blake, D. (2008). Longevity Risk Hedging: The Role of the Private & Public Sectors. OECD Seminar on the Payout Phase of Pensions, Annuities and Implications for Financial Markets Paris.
  40. Blake, D. (2008). Longevity: The Main Challenge for Pension Schemes. Europass 2008: European Pensions and Savings Summit 2008.
  41. Blake, D. (2008). Optimal Portfolios for Pension Funds. The Fourth Contractual Savings Conference: Supervisory and Regulatory Issues in Private Pensions and Life Insurance, World Bank.
  42. Blake, D. (2008). The Birth of the Life Market: Breathing Life into Longevity Risk and Capital Market Solutions. Association of Pension Lawyers Prestige Lecture 2008.
  43. Blake, D. (2008). Breathing Life into Mortality. NAPF Investment Conference 2008.
  44. Blake, D. (2007). Its all Back to Front: Critical Issues in the Design of Defined Contribution Pension Plans. Annual Conference on Frontiers in Pension Finance and Reform 2007 22-23 March, Amsterdam, Netherlands.
  45. Blake, D. (2007). Pension Liability Risks: Manage or Sell? International Monetary Fund and De Nederlandsche Bank Seminar on Ageing, Pension Risk Management and Financial Stability Washington DC, 15 February.
  46. Barnes, P.R.F., Blake, D., Glasscock, J.A., Plumb, I.C., Vohralik, P.F., Bendavid, A.... Vayssieres, L. Optimizing charge transport in Fe 2 O 3 films deposited on nanowire arrays. SPIE Optics + Photonics.doi:10.1117/12.681352
  47. Cairns, A.J.G., Blake, D. and Dowd, K. Pricing Death: Frameworks for the Valuation and Securitization of Mortality Risk. .doi:10.1017/s0515036100014410
  48. Blake, D. (2006). Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities. Staple Inn Sessional Meeting, Institute of Actuaries London, 27 February.
  49. Blake, D. (2006). Longevity Bonds: Financial Engineering, Valuation & Hedging. Second International Conference on Longevity Risk and Capital Market Solutions Chicago, 24 April.
  50. Blake, D. (2006). Pensions and Savings: The UK Experience. Kas Bank Bicentennial 1806-2006 Amsterdam, 10 March.
  51. Blake, D. (2006). The Governance of Pension Funds: The UK Experience. Financial Risks Borne by Households, Autorit� des March�s Financiers (AMF) Palais du Luxembourg, Paris, 15 May.
  52. Blake, D. (2006). The New Market for Buying Out Schemes � Will it Take Off? NAPF Annual Conference, ExCel, London, 8 June.
  53. Blake, D. (2006). The New Pension Scheme Buy-out Market in the UK. Fund Management Conference Xfi Centre for Finance and Investment, Exeter University, 15 December.
  54. Blake, D. (2006). The Turner Commission Report and its Critics. Pensions, Managing Business Risk: Corporate Pensions Post-Turner Cass, CIMA Conference, 6 April.
  55. Blake, D. (2006). Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities. Sessional Meeting, Faculty of Actuaries Edinburgh, 16 January.
  56. Blake, D. (2005). Major Issues of the 21st Century: Ageing and Financial Markets. Fourth City of London Biennial Meeting, International Maritime Organisation London, 6-7 December.
  57. Blake, D. (2005). Overregulating Your Pension out of Existence: The Long Term Consequences of British Pension Policy over the Last 30 Years. Why Has It All Gone Wrong? The Past, Present and Future of British Pensions, British Academy Symposium, 15 June.
  58. Blake, D. (2005). Pension Funds Need Three Pillars Too: What the Pension Protection Fund can Learn from the Financial Regulation of Banks and Insurance Companies. Strathclyde University Workshop, 25 May; Savings, Pension Provision and Retirement, Centre for Finance and Investment Conference (Xfi), University of Exeter, 27 May.
  59. Blake, D. (2005). Pension Issues for Charities. Hon. Treasurers Forum Cass Business School, 12 October.
  60. Blake, D. (2005). Risk Sharing and Hybrid Pension Plans. Department for Work and Pensions Seminar, 29 September.
  61. Blake, D. (2005). The UK Experience with Personal Pensions. ABP & PGGM Conference - Pension Plan Design for the Future, Kurhaus Scheveningen, Hague, 25 April.
  62. Blake, D. (2005). Voluntary Carve-outs for Social Security Reform: Lessons from the United Kingdom. AARP Conference, Washington, 16 May.
  63. Blake, D. (2005). A Two-Factor Model for Stochastic Mortality with Parameter Uncertainty. First International Conference on Longevity Risk and Capital Market Solutions, Cass Business School, London, 18 February.
  64. Blake, D. (2005). Developments in Longevity Risk Management. SIFR, Stockholm, Sweden, 5 October 2005; The Hague, 13 April 2006; World Bank, 26 April 2006.
  65. Blake, D. (2005). Does the UK Market have the Right Products Needed by Savers and Pension Funds? 13th Gleneagles Savings and Pensions Industry Leaders' Summit, 9 - 10 September.
  66. Blake, D. (2005). Financial Issues Associated with Pension Provision in China. H M Treasury - Chinese Banking Regulatory Commission Seminar, 22 September.
  67. Blake, D. (2005). Future Pension Provision in Britain: What Role for the State, the Company and the Citizen? Private Pensions and Social Inclusion: Does Voluntarism Have a Future? London School of Economics, 28 October.
  68. Blake, D. (2005). Investment Performance of Mutual Funds & Pension Funds. The Challenges Ahead for the Fund Management Industry Cass Business School, 9 December.
  69. Blake, D. (2005). Lessons from the UK Pension Crisis. Netspar (Network for Studies on Pensions, Ageing & Retirement) Inaugural Conference, Tilburg University, 17 January.
  70. BLAKE, D. A NONLINEAR MODEL OF PORTFOLIO BEHAVIOR WITH TIME-VARYING EXPECTATIONS AND RISKS. .

Journal articles (164)

  1. Cairns, A.J.G. and Blake, D. (2026). ADM's APPLE: The Accelerated Deaths Model with an Application to the Covid-19 Pandemic. Insurance: Mathematics and Economics, 128, pp. 103231-103231. doi:10.1016/j.insmatheco.2026.103231

    [publisher’s website]

  2. Cairns, A.J.G., Blake, D., Kessler, A., Kessler, M. and Mathur, R. (2025). Covid-19 mortality: the Proportionality Hypothesis. European Actuarial Journal, 15(2), pp. 509-554. doi:10.1007/s13385-024-00400-9

    [publisher’s website]

  3. Cairns, A.J.G., Blake, D., Kessler, A., Kessler, M. and Mathur, R. (2025). Correction: Covid-19 mortality: the Proportionality Hypothesis. European Actuarial Journal, 15(2), pp. 555-556. doi:10.1007/s13385-025-00425-8

    [publisher’s website]

  4. Blake, D. and Cairns, A.J.G. (2025). Longevity risk and capital markets: the 2023–2024 update. European Actuarial Journal, 15(2), pp. 505-508. doi:10.1007/s13385-025-00421-y

    [publisher’s website]

  5. Cairns, A., Blake, D., Kessler, A. and Kessler, M. (2025). The Impact of Covid-19 on Higher-Age Mortality. Medical Research Archives, 13(1). doi:10.18103/mra.v13i1.6186

    [publisher’s website]

  6. Blake, D. and Pickles, J. (2025). Mental time travel and the valuation of financial investments: analysing five biases that cause pricing anomalies. Review of Behavioral Finance, 17(1), pp. 1-18. doi:10.1108/rbf-11-2023-0303

    [publisher’s website]

  7. Blake, D. and Li, J. (2024). Correction: Longevity risk and capital markets: the 2022–2023 update. The Geneva Papers on Risk and Insurance - Issues and Practice, 49(4), pp. 868-868. doi:10.1057/s41288-024-00334-z

    [publisher’s website]

  8. Blake, D. and Li, J. (2024). Longevity risk and capital markets: the 2022–2023 update. The Geneva Papers on Risk and Insurance - Issues and Practice, 49(2), pp. 229-233. doi:10.1057/s41288-024-00314-3

    [publisher’s website]

  9. Blake, D. (2023). Target2: The Silent Bailout System That Keeps the Euro Afloat. Journal of Risk and Financial Management, 16(12). doi:10.3390/jrfm16120506

    [publisher’s website]

  10. Blake, D., Cairns, A.J.G., Kallestrup-Lamb, M. and Rangvid, J. (2023). Longevity risk and capital markets: the 2021–22 update. Journal of Demographic Economics, 89(3), pp. 299-312. doi:10.1017/dem.2023.2

    [publisher’s website]

  11. Blake, D., Duffield, M., Tonks, I., Haig, A., Blower, D. and MacPhee, L. (2022). Smart defaults: Determining the number of default funds in a pension scheme. The British Accounting Review, 54(4), pp. 101042-101042. doi:10.1016/j.bar.2021.101042

    [publisher’s website]

  12. Blake, D. and Pickles, J. (2022). Mental time travel and the valuation of financial investments. Review of Behavioral Finance, 14(3), pp. 327-344. doi:10.1108/rbf-06-2020-0133

    [publisher’s website]

  13. Cairns, A.J.G., Blake, D., Dowd, K., Coughlan, G.D., Jones, O. and Rowney, J. (2022). A general framework for analysing the mortality experience of a large portfolio of lives: with an application to the UK universities superannuation scheme. European Actuarial Journal, 12(1), pp. 381-415. doi:10.1007/s13385-022-00309-1

    [publisher’s website]

  14. Blake, D. (2022). The Great Game Will Never End: Why the Global Financial Crisis Is Bound to Be Repeated. Journal of Risk and Financial Management, 15(6), pp. 245-245. doi:10.3390/jrfm15060245

    [publisher’s website]

  15. Blake, D. (2022). Nudges and Networks: How to Use Behavioural Economics to Improve the Life Cycle Savings-Consumption Balance. Journal of Risk and Financial Management, 15(5). doi:10.3390/jrfm15050217

    [publisher’s website]

  16. Dowd, K. and Blake, D. (2022). Good Practice Principles in Modelling Defined Contribution Pension Plans. Journal of Risk and Financial Management, 15(3), pp. 108-108. doi:10.3390/jrfm15030108

    [publisher’s website]

  17. Dowd, K. and Blake, D. (2022). Projecting Mortality Rates to Extreme Old Age with the CBDX Model. Forecasting, 4(1), pp. 208-218. doi:10.3390/forecast4010012

    [publisher’s website]

  18. Blake, D. and Pickles, J. (2021). Mental Time Travel and Retirement Savings. Journal of Risk and Financial Management, 14(12), pp. 581-581. doi:10.3390/jrfm14120581

    [publisher’s website]

  19. Blake, P.D. (2021). Making Astrology Look Respectable: On the Extraordinary Abuse of Economic Models in the EU Referendum Debate. Advances in Politics and Economics, 4(4), pp. p15-p15. doi:10.22158/ape.v4n4p15

    [publisher’s website]

  20. Blake, D., Cannon, E. and Wright, D. (2021). Quantifying loss aversion: Evidence from a UK population survey. Journal of Risk and Uncertainty, 63(1), pp. 27-57. doi:10.1007/s11166-021-09356-7

    [publisher’s website]

  21. Blake, D. (2021). The UK is the Eurozone’s Dumping Ground. Review of Economics and Finance, 19, pp. 124-141. doi:10.35341/1923-7529.2021.19.13
  22. Blake, D. and Cairns, A.J.G. (2021). Longevity risk and capital markets: The 2019-20 update. Insurance: Mathematics and Economics, 99, pp. 395-439. doi:10.1016/j.insmatheco.2021.04.001

    [publisher’s website]

  23. Blake, D. and MacMinn, R. (2021). Longevity Risk and Capital Markets: The 2016-17 Update. North American Actuarial Journal, 25(sup 1), pp. 1-6. doi:10.1080/10920277.2019.1652101

    [publisher’s website]

  24. Hunt, A. and Blake, D. (2021). A Bayesian Approach to Modeling and Projecting Cohort Effects. North American Actuarial Journal, 25(sup1), pp. S235-S254. doi:10.1080/10920277.2019.1649157

    [publisher’s website]

  25. Blake, D., MacMinn, R., Tsai, J.C. and Wang, J. (2021). Longevity Risk and Capital Markets: The 2017–2018 Update. North American Actuarial Journal, 25(sup1), pp. S280-S308. doi:10.1080/10920277.2019.1644469

    [publisher’s website]

  26. Blake, D. (2021). Striking Similarities: The Origins of the European Economic Community. Advances in Politics and Economics, 4(1), pp. p1-p1. doi:10.22158/ape.v4n1p1

    [publisher’s website]

  27. Blake, D. and Cairns, A.J.G. (2020). Longevity risk and capital markets: the 2018–19 update. Annals of Actuarial Science, 14(2), pp. 219-261. doi:10.1017/s1748499520000202

    [publisher’s website]

  28. Hunt, A. and Blake, D. (2020). Identifiability in age/period/cohort mortality models. Annals of Actuarial Science, 14(2), pp. 500-536. doi:10.1017/s1748499520000123

    [publisher’s website]

  29. Hunt, A. and Blake, D. (2020). Identifiability in age/period mortality models. Annals of Actuarial Science, 14(2), pp. 461-499. doi:10.1017/s1748499520000111

    [publisher’s website]

  30. Dowd, K., Cairns, A.J.G. and Blake, D. (2020). CBDX: a workhorse mortality model from the Cairns–Blake–Dowd family. Annals of Actuarial Science, 14(2), pp. 445-460. doi:10.1017/s1748499520000159

    [publisher’s website]

  31. Hunt, A. and Blake, D. (2020). Forward Mortality Rates in Discrete Time I: Calibration and Securities Pricing. North American Actuarial Journal, 25(S1), pp. S482-S507. doi:10.1080/10920277.2019.1649159

    [publisher’s website]

  32. Hunt, A. and Blake, D. (2020). Forward Mortality Rates in Discrete Time II: Longevity Risk and Hedging Strategies. North American Actuarial Journal, 25(S1), pp. S508-S533. doi:10.1080/10920277.2019.1649160

    [publisher’s website]

  33. (2020). How Bright Are the Prospects for UK Trade and Prosperity Post-Brexit? Journal of Self-Governance and Management Economics, 8(1), pp. 7-7. doi:10.22381/jsme8120201

    [publisher’s website]

  34. Dowd, K., Buckner, D., Blake, D. and Fry, J. (2019). The valuation of no-negative equity guarantees and equity release mortgages. Economics Letters, 184, pp. 108669-108669. doi:10.1016/j.econlet.2019.108669

    [publisher’s website]

  35. Cairns, A.J.G., Kallestrup-Lamb, M., Rosenskjold, C., Blake, D. and Dowd, K. (2019). MODELLING SOCIO-ECONOMIC DIFFERENCES IN MORTALITY USING A NEW AFFLUENCE INDEX. ASTIN Bulletin, 49(03), pp. 555-590. doi:10.1017/asb.2019.14

    [publisher’s website]

  36. Blake, D., Cairns, A.J.G., Dowd, K. and Kessler, A.R. (2019). Still living with mortality: the longevity risk transfer market after one decade. British Actuarial Journal, 24. doi:10.1017/s1357321718000314

    [publisher’s website]

  37. (2019). Still living with mortality: the longevity risk transfer market after one decade. British Actuarial Journal, 24. doi:10.1017/s1357321718000259

    [publisher’s website]

  38. Blake, D. (2018). Longevity: a new asset class. Journal of Asset Management, 19(5), pp. 278-300. doi:10.1057/s41260-018-0084-9

    [publisher’s website]

  39. Dowd, K., Cairns, A.J.G. and Blake, D. (2018). Hedging Annuity Risks with the Age-Period-Cohort Two-Population Gravity Model. North American Actuarial Journal, 25(1), pp. S170-S181. doi:10.1080/10920277.2019.1652102

    [publisher’s website]

  40. Hunt, A. and Blake, D. (2018). On the Structure and Classification of Mortality Models. North American Actuarial Journal, 25(1), pp. S215-S234. doi:10.1080/10920277.2019.1649156

    [publisher’s website]

  41. Bessler, W., Blake, D., Lückoff, P. and Tonks, I. (2018). Fund Flows, Manager Changes, and Performance Persistence. Review of Finance, 22(5), pp. 1911-1947. doi:10.1093/rof/rfx017

    [publisher’s website]

  42. Rossi, A.G., Blake, D., Timmermann, A., Tonks, I. and Wermers, R. (2018). Network centrality and delegated investment performance. Journal of Financial Economics, 128(1), pp. 183-206. doi:10.1016/j.jfineco.2018.02.003

    [publisher’s website]

  43. Hunt, A. and Blake, D. (2018). Identifiability, cointegration and the gravity model. Insurance: Mathematics and Economics, 78, pp. 360-368. doi:10.1016/j.insmatheco.2017.09.014

    [publisher’s website]

  44. Blake, D., El Karoui, N., Loisel, S. and MacMinn, R. (2018). Longevity risk and capital markets: The 2015–16 update. Insurance: Mathematics and Economics, 78, pp. 157-173. doi:10.1016/j.insmatheco.2017.10.002

    [publisher’s website]

  45. Blake, D., Sarno, L. and Zinna, G. (2017). The market for lemmings: The herding behavior of pension funds. Journal of Financial Markets, 36, pp. 17-39. doi:10.1016/j.finmar.2017.03.001

    [publisher’s website]

  46. Blake, D., Caulfield, T., Ioannidis, C. and Tonks, I. (2017). New Evidence on Mutual Fund Performance: A Comparison of Alternative Bootstrap Methods. Journal of Financial and Quantitative Analysis, 52(3), pp. 1279-1299. doi:10.1017/s0022109017000229

    [publisher’s website]

  47. Hunt, A. and Blake, D. (2017). MODELLING MORTALITY FOR PENSION SCHEMES. ASTIN Bulletin, 47(2), pp. 601-629. doi:10.1017/asb.2016.40

    [publisher’s website]

  48. Blake, D. and Morales, M. (2017). Longevity Risk and Capital Markets: The 2014–15 Update. Journal of Risk and Insurance, 84, pp. 279-297. doi:10.1111/jori.12213

    [publisher’s website]

  49. Cairns, A.J.G., Blake, D., Dowd, K. and Kessler, A.R. (2016). Phantoms Never Die: Living with Unreliable Population Data. Journal of the Royal Statistical Society Series A: Statistics in Society, 179(4), pp. 975-1005. doi:10.1111/rssa.12159

    [publisher’s website]

  50. Cairns, A.J.G., Blake, D., Dowd, K. and Kessler, A.R. (2016). Phantoms never die: Living with unreliable population data. Journal of the Royal Statistical Society. Series A: Statistics in Society, 179(4), pp. 975-1005. doi:10.1111/rssa.12159
  51. Dowd, K., Blake, D. and Cairns, A. (2016). The Myth of Methuselah and the Uncertainty of Death: The Mortality Fan Charts. Risks, 4(3), pp. 21-21. doi:10.3390/risks4030021

    [publisher’s website]

  52. Biffis, E., Blake, D., Pitotti, L. and Sun, A. (2016). The Cost of Counterparty Risk and Collateralization in Longevity Swaps. Journal of Risk and Insurance, 83(2), pp. 387-419. doi:10.1111/jori.12055

    [publisher’s website]

  53. Hunt, A. and Blake, D. (2015). Modelling longevity bonds: Analysing the Swiss Re Kortis bond. Insurance: Mathematics and Economics, 63, pp. 12-29. doi:10.1016/j.insmatheco.2015.03.017

    [publisher’s website]

  54. Tan, K.S., Blake, D. and MacMinn, R. (2015). Longevity risk and capital markets: The 2013–14 update. Insurance: Mathematics and Economics, 63, pp. 1-11. doi:10.1016/j.insmatheco.2015.03.015

    [publisher’s website]

  55. Inkmann, J., Blake, D. and Shi, Z. (2015). Managing Financially Distressed Pension Plans in the Interest of Beneficiaries. Journal of Risk and Insurance pp. n/a-n/a. doi:10.1111/jori.12090

    [publisher’s website]

  56. Blake, D., Rossi, A., Timmermann, T., Tonks, I. and Wermers, R. (2015). Decentralization in Pension Fund Management. Journal of Investment Management, 13(3)

    [publisher’s website]

  57. Harrison, D. and Blake, D. (2014). The Role of Real Estate in Auto-enrolment Defined Contribution Pension Scheme Default Funds. Investment Property Focus pp. 7-9
  58. Blake, D. and Boardman, T. (2014). Spend More Today Safely: Using Behavioral Economics to Improve Retirement Expenditure Decisions With SPEEDOMETER Plans. Risk Management and Insurance Review, 17(1), pp. 83-112. doi:10.1111/rmir.12007

    [publisher’s website]

  59. Cairns, A.J.G., Dowd, K., Blake, D. and Coughlan, G.D. (2014). Longevity hedge effectiveness: a decomposition. Quantitative Finance, 14(2), pp. 217-235. doi:10.1080/14697688.2012.748986

    [publisher’s website]

  60. Hunt, A. and Blake, D. (2014). A General Procedure for Constructing Mortality Models. North American Actuarial Journal, 18(1), pp. 116-138. doi:10.1080/10920277.2013.852963

    [publisher’s website]

  61. Blake, D., MacMinn, R., Li, J.S.-.H. and Hardy, M. (2014). Longevity Risk and Capital Markets: The 2012–2013 Update. North American Actuarial Journal, 18(1), pp. 1-13. doi:10.1080/10920277.2014.883233

    [publisher’s website]

  62. Biffis, E. and Blake, D. (2014). Keeping Some Skin in the Game: How to Start a Capital Market in Longevity Risk Transfers. North American Actuarial Journal, 18(1), pp. 14-21. doi:10.1080/10920277.2013.872552

    [publisher’s website]

  63. Blake, D., Wright, D. and Zhang, Y. (2014). Age-dependent investing: Optimal funding and investment strategies in defined contribution pension plans when members are rational life cycle financial planners. Journal of Economic Dynamics and Control, 38, pp. 105-124. doi:10.1016/j.jedc.2013.11.001

    [publisher’s website]

  64. Blake, D., Caulfield, T., Ioannidis, C. and Tonks, I. (2014). Improved inference in the evaluation of mutual fund performance using panel bootstrap methods. Journal of Econometrics, 183(2), pp. 202-210. doi:10.1016/j.jeconom.2014.05.010
  65. Blake, D. and Turner, J.A. (2014). Longevity Insurance Annuities. Benefits Quarterly, 30(1), pp. 39-47

    [publisher’s website]

  66. Siegert, M.J., Makinson, K., Blake, D., Mowlem, M. and Ross, N. (2014). An assessment of deep hot-water drilling as a means to undertake direct measurement and sampling of Antarctic subglacial lakes: experience and lessons learned from the Lake Ellsworth field season 2012/13. Annals of Glaciology, 55(65), pp. 59-73. doi:10.3189/2014aog65a008

    [publisher’s website]

  67. Blake, D., Macminn, R. and Maurer, R. (2013). Longevity risk and capital markets: The 2011-2012 update. Journal of Risk and Insurance, 80(3), pp. 495-500. doi:10.1111/j.1539-6975.2013.12016.x
  68. Biffis, E. and Blake, D. (2013). Informed intermediation of longevity exposures. Journal of Risk and Insurance, 80(3), pp. 559-584. doi:10.1111/j.1539-6975.2013.01524.x
  69. Blake, D., Rossi, A.G., Timmermann, A., Tonks, I. and Wermers, R. (2013). Decentralized Investment Management: Evidence from the Pension Fund Industry. Journal of Finance, 68(3), pp. 1133-1178. doi:10.1111/jofi.12024

    [publisher’s website]

  70. Blake, D., Wright, D. and Zhang, Y. (2013). Target-driven investing: Optimal investment strategies in defined contribution pension plans under loss aversion. Journal of Economic Dynamics and Control, 37(1), pp. 195-209. doi:10.1016/j.jedc.2012.08.001

    [publisher’s website]

  71. Blake, D., Courbage, C., MacMinn, R. and Sherris, M. (2011). Longevity Risk and Capital Markets: The 2010–2011 Update. The Geneva Papers on Risk and Insurance - Issues and Practice, 36(4), pp. 489-500. doi:10.1057/gpp.2011.27

    [publisher’s website]

  72. Cairns, A.J.G., Blake, D., Dowd, K., Coughlan, G.D., Epstein, D. and Khalaf-Allah, M. (2011). Mortality density forecasts: An analysis of six stochastic mortality models. Insurance Mathematics and Economics, 48(3), pp. 355-367. doi:10.1016/j.insmatheco.2010.12.005

    [publisher’s website]

  73. Cairns, A.J.G., Blake, D., Dowd, K., Coughlan, G.D. and Khalaf-Allah, M. (2011). BAYESIAN STOCHASTIC MORTALITY MODELLING FOR TWO POPULATIONS. ASTIN BULLETIN, 41(1), pp. 29-59. doi:10.2143/AST.41.1.2084385
  74. Blake, D., Brockett, P., Cox, S. and MacMinn, R. (2011). Longevity Risk and Capital Markets: The 2009-2010 Update. North American Actuarial Journal, 15(2), pp. 141-149. doi:10.1080/10920277.2011.10597614

    [publisher’s website]

  75. Dowd, K., Cairns, A.J.G., Blake, D., Coughlan, G.D. and Khalaf-Allah, M. (2011). A Gravity Model of Mortality Rates for Two Related Populations. North American Actuarial Journal, 15(2), pp. 334-356. doi:10.1080/10920277.2011.10597624

    [publisher’s website]

  76. Dowd, K., Blake, D. and Cairns, A.J.G. (2011). A Computationally Efficient Algorithm for Estimating the Distribution of Future Annuity Values Under Interest-Rate and Longevity Risks. North American Actuarial Journal, 15(2), pp. 237-247. doi:10.1080/10920277.2011.10597619

    [publisher’s website]

  77. Coughlan, G.D., Khalaf-Allah, M., Ye, Y., Kumar, S., Cairns, A.J.G., Blake, D.... Dowd, K. (2011). Longevity Hedging 101. North American Actuarial Journal, 15(2), pp. 150-176. doi:10.1080/10920277.2011.10597615

    [publisher’s website]

  78. Blake, D., Boardman, T. and Cairns, A. (2011). Des Obligations Indexées Sur La Longévité? Revue Risques, 86(3), pp. 75-85
  79. Dowd, K., Cairns, A.J.G., Blake, D., Coughlan, G.D., Epstein, D. and Khalaf-Allah, M. (2010). Evaluating the goodness of fit of stochastic mortality models. Insurance Mathematics and Economics, 47(3), pp. 255-265. doi:10.1016/j.insmatheco.2010.06.006

    [publisher’s website]

  80. Dawson, P., Dowd, K., Cairns, A.J.G. and Blake, D. (2010). Survivor Derivatives: A Consistent Pricing Framework. Journal of Risk and Insurance, 77(3), pp. 579-596. doi:10.1111/j.1539-6975.2010.01356.x

    [publisher’s website]

  81. Tin, T., Sovacool, B.K., Blake, D., Magill, P., El Naggar, S., Lidstrom, S.... Berte, J. (2010). Energy efficiency and renewable energy under extreme conditions: Case studies from Antarctica. Renewable Energy, 35(8), pp. 1715-1723. doi:10.1016/j.renene.2009.10.020

    [publisher’s website]

  82. Dowd, K., Cairns, A.J.G., Blake, D., Coughlan, G.D., Epstein, D. and Khalaf-Allah, M. (2010). Backtesting Stochastic Mortality Models. North American Actuarial Journal, 14(3), pp. 281-298. doi:10.1080/10920277.2010.10597592

    [publisher’s website]

  83. Dowd, K., Blake, D. and Cairns, A.J.G. (2010). Facing up to uncertain life expectancy: the longevity fan charts. Demography, 47(1), pp. 67-78. doi:10.1353/dem.0.0083

    [publisher’s website]

  84. Biffis, E. and Blake, D. (2010). Securitizing and tranching longevity exposures. Insurance: Mathematics and Economics, 46(1), pp. 186-197. doi:10.1016/j.insmatheco.2009.06.007

    [publisher’s website]

  85. Blake, D., De Waegenaere, A., MacMinn, R. and Nijman, T. (2010). Longevity risk and capital markets: The 2008–2009 update. Insurance: Mathematics and Economics, 46(1), pp. 135-138. doi:10.1016/j.insmatheco.2009.11.003

    [publisher’s website]

  86. Blake, D., Byrne, A. and Mannion, G. (2010). Pension Plan Decisions. Review of Behavioral Finance, 2(1), pp. 19-36

    [publisher’s website]

  87. Blake, D. and Boardman, T. (2010). Sharing Longevity Risk: Why Governments Should Issue Longevity Bonds.

    [publisher’s website]

  88. Dawson, P., Dowd, K., Cairns, A.J.G. and Blake, D. (2009). Options on normal underlyings with an application to the pricing of survivor swaptions. Journal of Futures Markets, 29(8), pp. 757-774. doi:10.1002/fut.20378

    [publisher’s website]

  89. Cairns, A.J.G., Blake, D., Dowd, K., Coughlan, G.D., Epstein, D., Ong, A.... Balevich, I. (2009). A Quantitative Comparison of Stochastic Mortality Models Using Data From England and Wales and the United States. North American Actuarial Journal, 13(1), pp. 1-35. doi:10.1080/10920277.2009.10597538

    [publisher’s website]

  90. Blake, D., Cairns, A. and Dowd, K. (2009). Designing a Defined-Contribution Plan: What to Learn from Aircraft Designers. FINANCIAL ANALYSTS JOURNAL, 65(1), pp. 37-+. doi:10.2469/faj.v65.n1.7

    [publisher’s website]

  91. Blake, D., Cairns, A. and Dowd, K. (2008). The Birth of the Life Market. Asia-Pacific Journal of Risk and Insurance, 3(1). doi:10.2202/2153-3792.1027

    [publisher’s website]

  92. Byrne, A., Harrison, D. and Blake, D. (2008). Defined contribution pensions: dealing with the reluctant investor. Journal of Financial Regulation and Compliance, 16(3), pp. 206-219. doi:10.1108/13581980810888822

    [publisher’s website]

  93. Blake, D., Dowd, K. and Cairns, A.J.G. (2008). Longevity risk and the Grim Reaper’s toxic tail: The survivor fan charts. Insurance: Mathematics and Economics, 42(3), pp. 1062-1066. doi:10.1016/j.insmatheco.2008.01.003

    [publisher’s website]

  94. Cairns, A.J.G., Blake, D. and Dowd, K. (2008). Modelling and management of mortality risk: a review. Scandinavian Actuarial Journal, 2008(2-3), pp. 79-113. doi:10.1080/03461230802173608

    [publisher’s website]

  95. BLAKE, D. (2008). What is a Promise from the Government Worth? Quantifying Political Risk in State and Personal Pension Schemes in the United Kingdom. Economica, 75(298), pp. 342-361. doi:10.1111/j.1468-0335.2007.00612.x

    [publisher’s website]

  96. Blake, D. (2008). It is all back to front: critical issues in the design of defined contribution pension plans. pp. 99-158. doi:10.4337/9781847209924.00014

    [publisher’s website]

  97. Quinzii, C.M., Vu, T.H., Min, K.C., Tanji, K., Barral, S., Grewal, R.P.... Hirano, M. (2008). X-Linked Dominant Scapuloperoneal Myopathy Is Due to a Mutation in the Gene Encoding Four-and-a-Half-LIM Protein 1. The American Journal of Human Genetics, 82(1), pp. 208-213. doi:10.1016/j.ajhg.2007.09.013

    [publisher’s website]

  98. Blake, D., Cairns, A. and Dowd, K. (2007). The Impact of Occupation and Gender on Pensions from Defined Contribution Plans. The Geneva Papers on Risk and Insurance - Issues and Practice, 32(4), pp. 458-482. doi:10.1057/palgrave.gpp.2510141

    [publisher’s website]

  99. Byrne, A., Blake, D., Cairns, A. and Dowd, K. (2007). Default Funds in U.K. Defined-Contribution Plans (corrected). Financial Analysts Journal, 63(4), pp. 40-51. doi:10.2469/faj.v63.n4.4748

    [publisher’s website]

  100. Blake, D., Cotter, J. and Dowd, K. (2007). Financial risks and the Pension Protection Fund: Can it survive them? Pensions: An International Journal, 12(3), pp. 109-130. doi:10.1057/palgrave.pm.5950054

    [publisher’s website]

  101. Blake, D. and Turner, J. (2007). Individual Accounts for Social Security Reform: Lessons from the United Kingdom. Benefits Quarterly, 23(3), pp. 55-60
  102. Byrne, A., Blake, D., Cairns, A. and Dowd, K. (2007). Default funds in U.K. defined-contribution plans (vol 63, pg 43, 2007). FINANCIAL ANALYSTS JOURNAL, 63(6), pp. 10-10
  103. Blake, D., Cairns, A., Dowd, K. and MacMinn, R. (2006). Longevity bonds: Financial engineering, valuation, and hedging. Journal of Risk and Insurance, 73(4), pp. 647-672. doi:10.1111/j.1539-6975.2006.00193.x

    [publisher’s website]

  104. MacMinn, R., Brockett, P. and Blake, D. (2006). Longevity risk and capital markets. Journal of Risk and Insurance, 73(4), pp. 551-557. doi:10.1111/j.1539-6975.2006.00188.x

    [publisher’s website]

  105. Cairns, A.J.G., Blake, D. and Dowd, K. (2006). A Two‐Factor Model for Stochastic Mortality with Parameter Uncertainty: Theory and Calibration. Journal of Risk and Insurance, 73(4), pp. 687-718. doi:10.1111/j.1539-6975.2006.00195.x

    [publisher’s website]

  106. Dowd, K. and Blake, D. (2006). After VaR: The theory, estimation, and insurance applications of quantile-based risk measures. JOURNAL OF RISK AND INSURANCE, 73(2), pp. 193-229. doi:10.1111/j.1539-6975.2006.00171.x

    [publisher’s website]

  107. Blake, D. and Mayhew, L. (2006). On The Sustainability of the UK State Pension System in the Light of Population Ageing and Declining Fertility. The Economic Journal, 116(512), pp. F286-F305. doi:10.1111/j.1468-0297.2006.01100.x

    [publisher’s website]

  108. Dowd, K., Cairns, A.J.G. and Blake, D. (2006). Mortality-dependent financial risk measures. Insurance: Mathematics and Economics, 38(3), pp. 427-440. doi:10.1016/j.insmatheco.2005.11.003

    [publisher’s website]

  109. Byrne, A., Harrison, D., Rhodes, B. and Blake, D. (2006). PYRRHIC VICTORY? THE UNINTENDED CONSEQUENCE OF THE PENSIONS ACT 2004. Economic Affairs, 26(2), pp. 9-16. doi:10.1111/j.1468-0270.2006.00625.x

    [publisher’s website]

  110. Cairns, A.J.G., Blake, D. and Dowd, K. (2006). Stochastic lifestyling: Optimal dynamic asset allocation for defined contribution pension plans. Journal of Economic Dynamics and Control, 30(5), pp. 843-877. doi:10.1016/j.jedc.2005.03.009

    [publisher’s website]

  111. Dowd, K., Blake, D., Cairns, A.J.G. and Dawson, P. (2006). Survivor swaps. JOURNAL OF RISK AND INSURANCE, 73(1), pp. 1-17. doi:10.1111/j.1539-6975.2006.00163.x

    [publisher’s website]

  112. Blake, D., Cairns, A.J.G. and Dowd, K. (2006). Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities. British Actuarial Journal, 12(1), pp. 153-197. doi:10.1017/s1357321700004736

    [publisher’s website]

  113. Blake, D., Cairns, A. and Dowd, K. (2006). The Grave Problem of Longevity Risk. Financial Engineering News, May-June, pp. 19-30
  114. Blake, D., Byrne, A., Cairns, A. and Dowd, D. (2006). There's No Time Like the Present: The Cost of Delaying Retirement Saving. Financial Services Review, 15(3), pp. 213-231

    [publisher’s website]

  115. Blake, D. and Timmermann, A. (2005). Returns from active management in international equity markets: Evidence from a panel of UK pension funds. Journal of Asset Management, 6(1), pp. 5-20. doi:10.1057/palgrave.jam.2240162

    [publisher’s website]

  116. Byrne, A., Harrison, D. and Blake, D. (2005). Barriers to pension scheme participation in small- and medium-sized enterprises. Pensions: An International Journal, 10(2), pp. 144-151. doi:10.1057/palgrave.pm.5940302

    [publisher’s website]

  117. Blake, D. and Khorasanee, M.Z. (2005). Why invest in equities? North American Actuarial Journal, 9(4), pp. 125-130. doi:10.1080/10920277.2005.10596231
  118. Timmermann, A. and Blake, D. (2005). International Asset Allocation with Time‐Varying Investment Opportunities. The Journal of Business, 78(1), pp. 71-98. doi:10.1086/426520

    [publisher’s website]

  119. Blake, D., Dowd, K. and Cairns, A. (2005). PensionMetrics: Designing Defined-Contribution Pension Schemes. Risk, 18(5), pp. 81-82
  120. Blake, D., Cairns, A., Dowd, K. and Dawson, P. (2005). Pricing Risk on Longevity Bonds. Life and Pensions, (October 2005), pp. 41-44
  121. Blake, D., Dowd, K. and Cairns, A. (2005). Simulating DC Outcomes. Investments and Pensions Europe, October 2005, pp. 29-29
  122. Blake, D. and Khorasanee, Z. (2005). Pensions and Capital Structure: Why Hold Equities in the Pension Fund? By John Ralfe, Cliff Speed, and Jon Palin, July 2004. North American Actuarial Journal, 9(4), pp. 125-130

    [publisher’s website]

  123. Blake, D. (2004). Modelling the composition of personal sector wealth in the UK. Applied Financial Economics, 14(9), pp. 611-630. doi:10.1080/0960310042000233395

    [publisher’s website]

  124. Blake, D. (2004). The impact of wealth on consumption and retirement behaviour in the UK. Applied Financial Economics, 14(8), pp. 555-576. doi:10.1080/0960310042000233863

    [publisher’s website]

  125. DOWD, K., BLAKE, D. and CAIRNS, A. (2004). Long‐Term Value at Risk. The Journal of Risk Finance, 5(2), pp. 52-57. doi:10.1108/eb022986

    [publisher’s website]

  126. Blake, D. (2003). Financial system requirements for successful pension reform. Pensions: An International Journal, 9(1), pp. 59-87. doi:10.1057/palgrave.pm.5940250

    [publisher’s website]

  127. Blake, D., Cairns, A.J.G. and Dowd, K. (2003). Pensionmetrics 2: stochastic pension plan design during the distribution phase. INSURANCE MATHEMATICS & ECONOMICS, 33(1), pp. 29-47. doi:10.1016/S0167-6687(03)00141-0

    [publisher’s website]

  128. Blake, D. (2003). The UK pension system: Key issues. Pensions: An International Journal, 8(4), pp. 330-375. doi:10.1057/palgrave.pm.5940242

    [publisher’s website]

  129. Blake, D. (2003). Reply to "survivor bonds: A comment on Blake and Burrows". JOURNAL OF RISK AND INSURANCE, 70(2), pp. 349-351. doi:10.1111/1539-6975.00064

    [publisher’s website]

  130. Blake, D. (2003). UK pension fund management after Myners: The hunt for correlation begins. Journal of Asset Management, 4(1), pp. 32-72. doi:10.1057/palgrave.jam.2240094

    [publisher’s website]

  131. Blake, D. (2003). Take (smoothed) risks when you are young, not when you are old: How to get the best from your pension plan. IMA Journal of Management Mathematics, 14(2), pp. 145-161. doi:10.1093/imaman/14.2.145

    [publisher’s website]

  132. Blake, D., Lehmann, B.N. and Timmermann, A. (2002). Performance clustering and incentives in the UK pension fund industry. Journal of Asset Management, 3(2), pp. 173-194. doi:10.1057/palgrave.jam.2240073

    [publisher’s website]

  133. Blake, D., Cairns, A.J.G. and Dowd, K. (2001). Pensionmetrics: stochastic pension plan design and value-at-risk during the accumulation phase. INSURANCE MATHEMATICS & ECONOMICS, 29(2), pp. 187-215. doi:10.1016/S0167-6687(01)00082-8

    [publisher’s website]

  134. Blake, D. and Burrows, W. (2001). Survivor bonds: Helping to hedge mortality risk. JOURNAL OF RISK AND INSURANCE, 68(2), pp. 339-348. doi:10.2307/2678106

    [publisher’s website]

  135. Blake, D. and Board, J. (2000). Measuring Value Added in the Pensions Industry. The Geneva Papers on Risk and Insurance, 25(4), pp. 539-567

    [publisher’s website]

  136. Blake, D. (2000). Does it matter what type of pension scheme you have? ECONOMIC JOURNAL, 110(461), pp. F46-F81

    [publisher’s website]

  137. Blake, D. (2000). Two Decades of Pension Reform in the UK: What are the Implications for Occupational Pension Schemes? Employee Relations, 22(3), pp. 223-45

    [publisher’s website]

  138. Blake, D., Lehmann, B.N. and Timmermann, A. (1999). Asset allocation dynamics and pension fund performance. JOURNAL OF BUSINESS, 72(4), pp. 429-461. doi:10.1086/209623

    [publisher’s website]

  139. Blake, D. (1999). Annuity Markets: Problems and Solutions. The Geneva papers on Risk and Insurance, 24(3), pp. 358-375

    [publisher’s website]

  140. Blake, D. (1999). Portfolio Choice Models of Pension Funds and Life Assurance Companies: Similarities and Differences. The Geneva papers on Risk and Insurance, 24(3), pp. 327-357

    [publisher’s website]

  141. Lunde, A., Timmermann, A. and Blake, D. (1999). The hazards of mutual fund underperformance: A Cox regression analysis. Journal of Empirical Finance, 6(2), pp. 121-152. doi:10.1016/s0927-5398(98)00013-9

    [publisher’s website]

  142. Blake, D. and Orszag, J.M. (1999). Annual estimates of personal wealth holdings in the United Kingdom since 1948. Applied Financial Economics, 9(4), pp. 397-421

    [publisher’s website]

  143. Blake, D. (1998). Pension schemes as options on pension fund assets: implications for pension fund management. INSURANCE MATHEMATICS & ECONOMICS, 23(3), pp. 263-286. doi:10.1016/S0167-6687(98)00048-1

    [publisher’s website]

  144. Blake, D. and Orszag, J.M. (1998). Labour and the Future of Pensions: A Reply. Journal of Pensions Management, 3(PI-9801), pp. 263-71
  145. Blake, D. (1998). Measuring the Performance of Pension Funds using Liability-Driven Performance Attribution. Journal of Pensions Management, 3(PI-9705), pp. 105-9
  146. Blake, D. and Timmermann, A. (1998). Mutual Fund Performance: Evidence from the UK. European Finance Review, 2, pp. 57-77. doi:10.1023/A:1009729630606

    [publisher’s website]

  147. Blake, D. and Nied, A. (1997). The demand for alcohol in the United Kingdom. APPLIED ECONOMICS, 29(12), pp. 1655-1672. doi:10.1080/00036849700000041

    [publisher’s website]

  148. Blake, D. (1997). Positioning pensions for the twenty-first century. ECONOMICA, 64(256), pp. 705-706
  149. Blake, D. (1996). Efficiency, risk aversion and portfolio insurance: An analysis of financial asset portfolios held by investors in the United Kingdom. ECONOMIC JOURNAL, 106(438), pp. 1175-1192. doi:10.2307/2235514

    [publisher’s website]

  150. Blake, D. and Michael Orszag, J. (1996). A Closed-Form Formula for Calculating Bond Convexity. The Journal of Fixed Income, 6(1), pp. 88-91. doi:10.3905/jfi.1996.408163

    [publisher’s website]

  151. Blake, D. (1996). On the Long-Term Risks Facing Pension Schemes and Pension Funds in Europe. Journal of Pensions Management, (April), pp. 225-244
  152. Blake, D. (1996). Financial Intermediation and Financial Innovation in a Characteristics Framework. Scottish Journal of Political Economy, 43(1), pp. 16-31

    [publisher’s website]

  153. Blake, D. (1994). Pensions - How Secure Can You Make Your Old Age? Parliamentary Brief, December
  154. Phylaktis, K. and Blake, D. (1993). The fisher hypothesis: Evidence from three high inflation economies. Weltwirtschaftliches Archiv, 129(3), pp. 591-599. doi:10.1007/bf02708004

    [publisher’s website]

  155. Blake, D. and Boyle, S. (1992). The Demand for Cider in the United Kingdom. Oxford Bulletin of Economics & Statistics, 54(1), pp. 73-86

    [publisher’s website]

  156. Blake, D. (1992). It's Time to Take Our Pensions Out the Hands of Employers. The Times, 40804
  157. Blake, D. and Pradhan, M. (1991). Debt-equity swaps as bond conversions: implications for pricing. , 15(1), pp. 29-41

    [publisher’s website]

  158. Blake, D. (1991). The Estimation of Rational Expectations Models: A Survey. Journal of Economic Studies, 18, pp. 31-70
  159. Blake, D. (1990). Portfolio Behaviour and Asset Pricing in a Characteristics Framework. Scottish Journal of Political Economy, 37(4)

    [publisher’s website]

  160. BLAKE, D. (1989). TESTING MODELS GENERATING TIME-VARYING ASSET RETURN EXPECTATIONS AND RISKS - THE CASE OF UK PRIVATE SECTOR PENSION-FUNDS. ECONOMIC MODELLING, 6(2), pp. 220-240. doi:10.1016/0264-9993(89)90006-0

    [publisher’s website]

  161. BLAKE, D. and BEENSTOCK, M. (1988). THE STOCHASTIC-ANALYSIS OF COMPETITIVE UNEMPLOYMENT-INSURANCE PREMIUMS. EUROPEAN ECONOMIC REVIEW, 32(1), pp. 7-25. doi:10.1016/0014-2921(88)90032-3

    [publisher’s website]

  162. BLAKE, D., BEENSTOCK, M. and BRASSE, V. (1986). THE PERFORMANCE OF UK EXCHANGE-RATE FORECASTERS. ECONOMIC JOURNAL, 96(384), pp. 986-999. doi:10.2307/2233169

    [publisher’s website]

  163. Desai, M. and Blake, D. (1982). Monetarism and the US economy: A re-evaluation of Stein's model 1960-1973. , 10(1), pp. 111-125

    [publisher’s website]

  164. Desai, M. and Blake, D. (1981). Modelling the Ultimate Absurdity: A Comment on "A Quantitative Study of the Strategic Arms Race in the Missile Age.". Review of Economics & Statistics, 63(4)

    [publisher’s website]

Reports (38)

  1. Blake, D. (2023). Productivity and exports – how SMART planning can resolve the UK’s two most serious economic crises. London, UK: City, Univeristy of London.
  2. Blake, D. and Kearns, H. (2022). Looking into longevity: Q & A with Professor David Blake. London, UK: Insight Investment.
  3. Blake, D. and Roy, M. (2018). Bringing Black Box Thinking to the Pensions Industry. London, UK: Pensions Institute; Cass Business School.
  4. Blake, D. and Roy, M. (2017). Greatest Good 2: Response to the Department for Work& Pensions Green Paper, Security and Sustainabilityin Defined Benefit Pension Scheme. London, UK: Pensions Institute, Cass Business School.
  5. Blake, D. (2016). Independent Review of Retirement Income Report: We Need a National Narrative: Building a Consensus around Retirement Income. UK: Independent Review of Retirement Income. ISBN 9780993561511.
  6. Hunt, A. and Blake, D. (2016). The Good, the Bad and the Healthy: The Medical Underwriting Revolution in the Defined Benefit De-Risking Market. London, UK: Pensions Institute; Cass Business School.
  7. Harrison, D. and Blake, D. (2015). The greatest good for the greatest number: An examination of early intervention strategies for trustees and sponsoring employers of stressed defined benefit schemes. London, UK: Pensions Institute.
  8. Harrison, D. and Blake, D. (2015). The meaning of life: An uncertain future for the traditional life company business model in the UK’s private sector pensions market. London, UK: The Pensions Institute; Cass Business School.
  9. Harrison, D. and Blake, D. The Future of Retirement Income. London: Cass Business School.
  10. Blake, D. and Haig, A. How do savers think about and respond to risk? Evidence from a population survey and lessons for the investment industry. London, UK: Pensions Institute; Cass Business School.
  11. Harrison, D., Blake, D. and Dowd, K. VfM: Assessing value for money in defined contribution default funds. London: The Pensions Institute; Cass Business School.
  12. Harrison, D., Blake, D. and Key, T. (2013). Returning to the Core - Rediscovering a Role for Real Estate in Defined Contribution Pension Schemes. London, UK: The Pensions Institute.
  13. Harrison, D. and Blake, D. (2013). A Healthier Way to De-Risk: The Introduction of Medical Underwriting to the Defined Benefit De-Risking Market. London, UK: The Pensions Institute; Cass Business School.
  14. Blake, D. and Harrison, D. (2012). An Evaluation of Investment Governance in London Local Government Pension Schemes: A Discussion Paper for Stakeholders to the London Funds. London, UK: The Pensions Institute; Cass Business School.
  15. Harrison, D., Blake, D. and Dowd, K. (2012). Caveat Venditor: The Brave New World of Auto-Enrolment should be Governed by the Principle of Seller not Buyer Beware. London, UK: The Pensions Institute; Cass Business School.
  16. Blake, D., Cannon, E. and Tonks, I. (2010). Ending Compulsory Annuitisation: Quantifying the Consequences. The Pensions Institute; Cass Business School.
  17. Blake, D., Cannon, E. and Tonks, I. (2010). Ending Compulsory Annuitisation: What are the Consequences? London: Pensions Institute; Cass Business School.
  18. Blake, D., Blond, P., Cummings, C., Hurman, N., McGee, F., Reeve, J.... Williams, P. (2010). Saving Britain: A White Paper on Rebuilding Britain’s Savings Culture. London, UK: Pensions Institute: Cass Business School.
  19. Blake, D., Tom Boardman, A.C. and Dowd, K. (2009). Life & Pensions: Taking the Long View. London: The Pensions Institute; Cass Business School.
  20. Blake, D. and Pickles, J. (2008). Apocalyptic Demography? Putting Longevity Risk in Perspective. London, UK: CIMA/ Pensions Institute. ISBN 9781859715963.
  21. Blake, D., Khorasanee, Z., Pickles, J. and Tyrrall, D. (2008). An unreal number: how company pension accounting fosters an illusion of certainty. London, UK: Pensions Institute; Cass Business School.
  22. Byrne, A., Harrison, D. and Blake, D. (2007). Dealing With the Reluctant Investor: Innovation and governance in DC pension investment. London, UK: The Pensions Institute; Cass Business School.
  23. Mayhew, L. and Blake, D. (2006). On the sustainability of the United Kingdom state pension system in the light of population ageing and declining fertility. Pensions Institute.
  24. Blake, D., Harrison, D. and Byrne, A. (2006). Annuities and Accessibility – How the industry can empower consumers to make rational choices. London: The Pensions Institute; Cass Business School.
  25. Harrison, D., Byrne, A., Rhodes, W. and Blake, D. (2005). Pyrrhic Victory? The unintended consequences of the Pensions Act 2004. The Pensions Institute; Cass Business School.
  26. Harrison, D., Byrne, A. and Blake, D. (2004). Delivering DC? Barriers to participation in the company-sponsored pensions market. London: The Pensions Institute; Cass Business School.
  27. Mayhew, L. and Blake, D. (2004). Immigration or bust? Options for securing the future viability of the UK state pension system. London: London School of Economics.
  28. Blake, D. (2002). Out of the GAR Frying Pan into the GIR Fire: An Independent Evaluation of the Current State of the With-Profits Fund of the Equitable Life Assurance Society. London, UK: Pensions Institute.
  29. Blake, D. (2001). An Assessment of the Adequacy and Objectivity of the Information Provided by the Board of the Equitable Life Assurance Society in Connection with the Compromise Scheme Proposal of 6 December 2001. London, UK: Pensions Institute.
  30. Blake, D. (2001). UK Pension Fund Management: How is Asset Allocation Influenced by the Valuation of Liabilities? London: The Pensions Institute; Cass Business School.
  31. Blake, D. and Hudson, R. (2000). Improving Security and Flexibility in Retirement: Full Technical Report. London, UK: Retirement Income Working Party.
  32. Blake, D. and Orszag, J.M. (1997). Portability and Preservation of Pension Rights in the UK. London, UK: UK Office of Fair Trading.
  33. Blake, D., Lehmann, B. and Timmermann, A. (1997). Performance Measurement Using Multiple Asset Class Portfolio Data: A Study of UK Pension Funds. Centre for Economic Policy Research Great Britain.
  34. Blake, D. (1997). The Pensions Risk: The Long Term Risks Facing Pension Schemes and Pension Funds in Europe. Adam Smith Institute.
  35. Blake, D. (1997). Pension Funds and Capital Markets: Necessary but not Sufficient Vehicles for Delivering the Pension Promis. London: Pensions Institute.
  36. Blake, D., Lehmann, B.N. and Timmermann, A.G. Performance Measurement Using Multiple Asset Class Portfolio Data: A Study of UK Pension Funds. Pensions Institute.
  37. Cannon, E. Independent Review of Retirement Income: Consultation. UK: Independent Review of Retirement Income. ISBN 9780993561535.
  38. Blake, D. Brexit and the City. London: City, University of London.

Scholarly editions (2)

  1. Cairns, A.J.G., Kallestrup-Lamb, M., Rosenskjold, C.P.T., Blake, D. and Dowd, K. (2016). Modelling Socio-Economic Differences in the Mortality of Danish Males Using a New Affluence Index.
  2. Cotter, J., Blake, D. and Dowd, K. (2012). What Should Be Done About The Underfunding of Defined Benefit Pension Schemes?

Working papers (30)

  1. Blake, D., Cannon, E. and Wright, D. (2025). Correction: Quantifying loss aversion: Evidence from a UK population survey. Springer Science and Business Media LLC.
  2. Blake, D. Target2: The silent bailout system that keeps the Euro afloat. London: City, University of London
  3. Blake, D. The UK is the Eurozone’s Dumping Ground. REF Press.
  4. Blake, D. (2020). Striking similarities: The origins of the European Economic Community. City, University of London
  5. Blake, D. (2020). How bright are the prospects for UK trade and prosperity post-brexit?
  6. Blake, D., Duffield, M., Tonks, I., Haig, A., Blower, D. and MacPhee, L. (2020). One size fits all: How many default funds does a pension scheme need? London, UK: Pensions Institute
  7. Blake, D., Duffield, M., Tonks, I., Haig, A., Blower, D. and MacPhee, L. (2020). Grouping Individual Investment Preferences in Retirement Savings: A Cluster Analysis of a USS Members Risk Attitude Survey. London, UK: Pensions Institute
  8. Blake, D., Kallestrup-Lamb, M., Kjaergaard, S. and Rosenkjold, C. (2020). Insight into Stagnating Life Expectancy: Analysing Cause of Death Patterns across Socio-economic Groups. London, UK: Pensions Institute
  9. Blake, D. (2020). Nudges and Networks: How to use behavioural economics to improve the life cycle savings-consumption balance. London, UK: Pensions Institute
  10. Dowd, K., Cairns, J.G. and Blake, D. (2020). CBDX: A Workhorse Mortality Model from the Cairns-Blake-Dowd Family. London, UK: Pensions Institute.
  11. Cairns, A.J.G., Blake, D., Kessler, A.R. and Kessler, M. (2020). The Impact of Covid-19 on Future Higher-Age Mortality. London, UK: Pensions Institute
  12. Dowd, K. and Blake, D. (2019). On the Projection of Mortality Rates to Extreme Old Age. London, UK: Pensions Institute
  13. Dowd, K., Cairns, J.G. and Blake, D. (2019). A Simple Approach to Project Extreme Old Age Mortality Rates and Value Mortality-Related Financial Instruments. London, UK: Pensions Institute
  14. Dowd, K., Blake, D., Buckner, D. and Fry, J. (2019). The Valuation of No-Negative Equity Guarantees and Equity Release Mortgages. London, UK: Pensions Institute
  15. Blake, D., Cairns, A., Dowd, K. and Kessler, A.R. (2018). Still Living with Mortality: The Longevity Risk Transfer Market after One Decade. London, UK: Pensions Institute
  16. Blake, D. (2018). Longevity: A New Asset Class. London, UK: Pensions Institute
  17. Blake, D., Caulfield, T., Ioannidis, C. and Tonks, I. (2017). New Evidence on Mutual Fund Performance: A Comparison of Alternative Bootstrap Methods. London, UK: Pensions Institute.
  18. Blake, D. and Hunt, A. (2016). Basis Risk and Pension Schemes: A Relative Modelling Approach. London, UK: Pensions Institute
  19. Hunt, A. and Blake, D. (2016). Forward Mortality Rates in Discrete Time II: Longevity Risk and Hedging Strategies. London, UK: Pensions Institute
  20. Harrison, D. and Blake, D. (2015). Supporting Materials for The Greatest Good for the Greatest Number: An examination of early intervention strategies for trustees and sponsoring employers of stressed defined benefit schemes. London, UK: Pensions Institute
  21. Seng Tang, K., Blake, D. and MacMinn, R. (2015). Longevity Risk and Capital Markets: The 2013-14 Update. London, UK: Pensions Institute
  22. Blake, D. and MacMinn, R. (2015). Longevity Risk and Capital Markets: The 2016-17 Update. London, UK: Pensions Institute
  23. Hunt, A. and Blake, D. (2015). Forward Mortality Rates in Discrete Time I: Calibration and Securities Pricing. Pensions Institute
  24. Blake, D. (2014). The consequences of not having to buy an annuity. London, UK: Pensions Institute
  25. Blake, D. (2014). On the Disclosure of the Cost of Investment Management. London, UK: Pensions Institute
  26. Dowd, K. and Blake, D. (2013). Good Practice Principles in Modelling Defined Contribution Pension Plans. UK: Pensions Institute
  27. Blake, D., Wright, I.D. and Zhang, Y. (2008). Optimal funding and investment strategies in defined contribution pension plans under Epstein-Zin utility. London, UK: Faculty of Actuarial Science & Insurance, City University London
  28. Timmermann, A. and Blake, D. (2000). International Investment Performance: Evidence from Institutional Investors’ Foreign Equity Holdings. London, UK: Pensions Institute
  29. Blake, D. (1999). Financial System Requirements for Successful Pension Reform. Lodnon, UK: Pensions Institute
  30. Blake, D. and Orszag, J.M. (1998). The Simple Economics of Funded and Unfunded Pension Systems. London, UK: Pensions Institute

Other

Professional activities

Collaboration (academic)

  1. Partner of Modelling, Measurement and Management of Longevity and Morbidity Risk project (March 2016 - present)
    Sponsored by Institute and Faculty of Actuaries
    Other partners: Heriot-Watt University, University of Southampton, Aarhus University, University of California Santa Barbara, and Longevitas Ltd

Collaborations (industrial) (9)

  1. Lead partner of Twelfth International Longevity Risk & Capital Markets Solutions Conference project (October 2015 - September 2016)
    Sponsored by Society of Actuaries, Pensions Institute
    Other partners: Prudential Financial, Inc., Hannover Ruck, Milliman, Oliver Wyman Financial Services, SCOR Global Life, Wilkie Farr & Gallagher Ltd
  2. Lead partner of Eleventh International Longevity Risk & Capital Markets Solutions Conference project (October 2014 - September 2015)
    Sponsored by Institute of Financial and Insurance Sciences (ISFA), SAF Laboratory, Laboratory of Probabilities and Random Models, LoLitA, Louis Bachelier Institute, Pensions Institute
    Other partners: Prudential Financial, Inc., SCOR, Société Générale, Society of Actuaries, EY, Milliman, Reinsurance Group of America, Aon Benfield, Guy Carpenter, PRIM’ACT, SINALYS
  3. Lead partner of Tenth International Longevity Risk & Capital Markets Solutions Conference project (October 2013 - September 2014)
    Sponsored by Universidad Diego Portales, Edmondson-Miller Chair, Illinois State University, USA; Pensions Institute, Cass Business School, City University London, UK
    Other partners: Other partners: AFP Habitat, Principal Financial Group, Prudential Financial, Inc, Société Générale, Society of Actuaries, Insurers Association of Chile
  4. Lead partner of Ninth International Longevity Risk & Capital Markets Solutions Conference project (October 2012 - September 2013)
    Sponsored by China Institute for Actuarial Science (CIAS), Central University of Finance & Economics (CUFE), Beijing. Co-hosts: Pensions Institute, Cass Business School, City University London, UK
    Other partners: WatRISQ, University of Waterloo, Canada; Edmondson-Miller Chair, Illinois State University, USA; Risk Management and Insurance Department, National Cheng-Chi University, Taiwan
  5. Lead partner of Eighth International Longevity Risk & Capital Markets Solutions Conference project (October 2011 - September 2012)
    Sponsored by Department of Statistics and Actuarial Science, University of Waterloo, Waterloo Research Institute in Insurance, Securities and Quantitative Finance, and the Pensions Institute
    Other partners: Prudential (US), Sun Life Financial, Société Générale Corporate & Investment Banking, and Society of Actuaries
  6. Lead partner of Seventh International Longevity Risk & Capital Markets Solutions Conference project (October 2010 - September 2011)
    Sponsored by BVI Bundesverband Investment and Asset Management, Commerzbank Corporates & Markets, Deutsche Börse – Market Data & Analytics, Ernst & Young, Fidelity International, and Hannover Re
    Other partners: BVI Bundesverband Investment and Asset Management, Commerzbank Corporates & Markets, Deutsche Börse – Market Data & Analytics, Ernst & Young, Fidelity International, and Hannover Re
  7. Lead partner of Sixth International Longevity Risk & Capital Markets Solutions Conference project (October 2009 - September 2010)
    Sponsored by Australian Institute for Population Ageing Research, Australian School of Business, the University of New South Wales and the Pensions Institute
    Other partners: PricewaterhouseCoopers, Australian Prudential Regulation Authority (APRA), Coventry, Swiss Re, Institute of Actuaries of Australia
  8. Lead partner of Fifth International Longevity Risk & Capital Markets Solutions Conference project (October 2008 - September 2009)
    Sponsored by J.P. Morgan, St. John's University School of Risk Management, and the Pensions Institute
    Other partners: Center for Retirement Research at Boston College, College of Business Illinois State University, Massachusetts Institute of Technology AgeLab, North American Actuarial Journal, Society of Actuaries, F
  9. Lead partner of Fourth International Longevity Risk & Capital Markets Solutions Conference project (October 2007 - September 2008)
    Sponsored by Netspar, Pensions Institute, Holland Financial Centre, and PensionSummit
    Other partners: Cardano, EIM, Nationale Nederlanden and Robeco

Editorial activity

  1. Journal of Risk and Insurance, Associate Editor, 2010 - present.

Events/conferences (95)

  1. Post-Retirement Conference. (Conference) Sydney, Australia (2016). Invited speaker.
    Paper: The 2015 UK Pension Reforms
    Author: Blake D
  2. Longevity 12: The Twefth International Conference on Longevity Risk and Capital Market Solutions. (Conference) Chicago (2016). Organising Committee
  3. Bank of England Roundtable on the Risks to UK Monetary and Financial Stability from Demographic Change. (Seminar) London (2015). Invited speaker.
    Paper: Intergenerational Transfers and Longevity Risk
    Author: Blake D
  4. IOPS-AIOS International Seminar on Pension Systems. (Conference) Costa Rica (2015). Invited speaker.
    Paper: Investment Benchmarking in Defined Contribution Plans
    Author: Blake D
  5. Longevity 11: The Eleventh International Conference on Longevity Risk and Capital Market Solutions. (Conference) Lyon, France (2015). Organising Committee
  6. OECD-Euromoney Long-term Investing Conference. (Conference) Paris (2014). Invited speaker.
    Paper: Pension Design and Long-term Investing
    Author: Blake D
  7. Longevity 10: The Tenth International Conference on Longevity Risk and Capital Market Solutions. (Conference) Santiago, Chile (2014). Organising Committee
  8. 11th International Workshop on Pensions, Insurance and Saving. (Conference) Paris (2013). Organising Committee
  9. Defined Contribution, Guarantees And Risk Sharing (Pensions Institute, OECD, International Centre for Pension Management). (Conference) Cass Business School (2013). Organising Committee
  10. 11th International Workshop on Pensions, Insurance and Saving. (Conference) Paris (2013). Invited speaker.
    Paper: Spend More Today: Using Behavioural Economics to Improve Retirement Expenditure Decisions
    Author: Blake D
    Co-authors: Tom Boardman
  11. Longevity Nine: The Ninth International Conference on Longevity Risk and Capital Market Solutions. (Conference) Beijing, China (2013). Organising Committee
  12. Distribution of Retirement Solutions in the ‘At-Retirement’ Market, Tax-Incentivised Savings Association (TISA) Seminar. (Seminar) London (2012). Invited speaker.
    Paper: Spend More Today: Using Behavioural Economics to Improve Retirement Expenditure Decisions
    Author: Blake D
    Co-authors: T Boardman
  13. Workshop on Macroprudential Risk and Long-Term Sectors. (Workshop) Bank of England, London (2012). Invited speaker.
    Paper: Population Ageing & Financial Stability
    Author: Blake D
  14. Longevity Risk Roundtable, Joint Forum Risk and Capital Committee. (Workshop) Amsterdam, Netherlands (2012). Invited speaker.
    Paper: How to Start a Capital Market in Longevity Risk Transfers
    Author: Blake D
    Co-authors: Enrico Biffis
  15. International Pension Workshop, NETSPAR - University Paris-Dauphine. (Workshop) Paris, France (2012). Invited speaker.
    Paper: How to Invest Pension Funds in the Context of Ageing and the Financial Crisis
    Author: Blake D
  16. Professional Pensions Pensions Academy. (Conference) London (2012). Invited speaker.
    Paper: Investment Challenges for UK Pensions Funds
    Author: Blake D
  17. OECD Conference on Capital Markets Instruments for Transferring Longevity Risk. (Conference) Paris, France (2012). Invited speaker.
    Paper: Why Governments Should Issue Longevity Bonds
    Author: Blake D
  18. Institutional Life Markets Association Fourth Annual European Investor Summit. (Conference) London (2012). Invited speaker.
    Paper: Life Settlement Longevity Research: Lessons from the Macro Side of the Longevity Market
    Author: Blake D
  19. Fund Forum International 2012. (Conference) Monaco (2012). Invited speaker.
    Paper: New DC Research: Rethinking Accumulation and Decumulation
    Author: Blake D
  20. FIAP International Seminar. (Conference) Cancun, Mexico (2012). Invited speaker.
    Paper: Nudges and Networks: How to Use Behavioural Economics to Improve the Life-Cycle Savings-Consumption Balance
    Author: Blake D
  21. American Academy of Actuaries’ 2012 Summer Summit. (Conference) Washington DC (2012). Invited speaker.
    Paper: Annuities: Why they are so important and why they are so difficult to provide
    Author: Blake D
  22. Longevity Eight: The Eighth International Conference on Longevity Risk and Capital Market Solutions. (Conference) Waterloo, Canada (2012). Organising Committee
  23. Special Seminar on Annuities and Pensions celebrating 50th Anniversary of OECD. (Seminar) Mexico City (2011). Invited speaker.
    Paper: Annuities: Why they are so important and why they are so difficult to provide
    Author: Blake D
  24. Pensions Intelligence Seminars. (Seminar) London (2011). Invited speaker.
    Paper: Using Behavioural Economics to Improve Retirement Expenditure Decisions
    Author: Blake D
    Co-authors: Tom Boardman
  25. Workshop on the World Economic Forum’s Project Developing Future Social Protection Systems. (Workshop) London (2011). Invited speaker.
    Paper: Impact of Demographic Challenges and the Sovereign Debt Crisis on Social Protection Systems
    Author: Blake D
  26. Pensions, Benefits and Social Security Section Colloquium (PBSS) 2011. (Conference) Edinburgh (2011). Invited speaker.
    Paper: Derisking Pension Plans using Financial Solutions
    Author: Blake D
  27. IMF Conference on Controlling Public Spending in Advanced Economies. (Conference) Rome (2011). Invited speaker.
    Paper: Reforming Health and Pension Spending
    Author: Blake D
  28. 4th Financial Risks International Forum on Long Term Risks. (Conference) Paris (2011). Invited speaker.
    Paper: Longevity as an Asset Class
    Author: Blake D
  29. 15th International Congress on Insurance: Mathematics and Economics. (Conference) Trieste (2011). Invited speaker.
    Paper: Longevity as an Asset Class
    Author: Blake D
  30. Longevity Seven: The Seventh International Conference on Longevity Risk and Capital Market Solutions. (Conference) Frankfurt (2011). Organising Committee
  31. Policy Exchange Panel on Long-Term Savings. (Seminar) Birmingham (2010). Invited speaker.
    Paper: Behavioural issues in long-term savings
    Author: Blake D
  32. Pensions Institute – Prudential Event. (Seminar) London (2010). Invited speaker.
    Paper: Ending Compulsory Annuitisation: Quantifying the Consequences
    Author: Blake D
  33. Work Foundation Panel on Pensions. (Workshop) Manchester (2010). Invited speaker.
    Paper: Pensions and the labour market
    Author: Blake D
  34. Why Governments Should Issue Longevity Bonds. (Workshop) Bank of Italy, Rome (2010). Invited speaker.
    Paper: Why Governments Should Issue Longevity Bonds
    Author: Blake D
  35. Pensions Forum. (Workshop) Paris (2010). Invited speaker.
    Paper: Should Multinationals Consider Longevity Solutions?
    Author: Blake D
  36. World Bank Global Symposium on Pension and Sovereign Fund Investments. (Conference) Dubai (2010). Invited speaker.
    Paper: What is the Appropriate Accounting and Regulatory Framework for Pension Funds?
    Author: Blake D
  37. World Bank Global Symposium on Pension and Sovereign Fund Investments. (Conference) Dubai (2010). Invited speaker.
    Paper: Longevity as an Asset Class
    Author: Blake D
  38. UK Pensions & Investments Summit 2010. (Conference) London (2010). Invited speaker.
    Paper: Why Governments Should Issue Longevity Bonds
    Author: Blake D
  39. The Economist's Financial Services Summit 2010. (Conference) London (2010). Invited speaker.
    Paper: Behavioural issues in savings
    Author: Blake D
  40. Sixth City of London Biennial Meeting. (Conference) London (2010).
    Paper: The New Life Market in London
    Author: Blake D
  41. Second Annual Financial Times UK Retirement Summit. (Conference) London (2010). Invited speaker.
    Paper: At Retirement – New Opportunities, but at What Cost
    Author: Blake D
  42. Second Annual Financial Times UK Retirement Summit. (Conference) London (2010). Invited speaker.
    Paper: SPEEDOMETER Plans – Spending Optimally Throughout Retirement
    Author: Blake D
    Co-authors: Tom Boardman
  43. Professional Pensions Investment Conference 2010. (Conference) London (2010). Invited speaker.
    Paper: UK Government Should Issue Longevity Bonds to Mitigate Longevity Risk
    Author: Blake D
  44. Private Capital and the Road to a Developed Economy, Ningbo-Nottingham International Finance Forum. (Conference) Ningbo, China (2010). Invited speaker.
    Paper: The Real Lessons of the Global Banking Crisis
    Author: Blake D
  45. Private Capital and the Road to a Developed Economy, Ningbo-Nottingham International Finance Forum. (Conference) Ningbo, China (2010). Invited speaker.
    Paper: From Survivor Bonds to Life Settlements Securitisation
    Author: Blake D
  46. FT Pensions Summit. (Conference) London (2010). Invited speaker.
    Paper: Panel on 21st Century DC
    Author: Blake D
  47. Eighth Annual Capital Matters: Managing Labor’s Capital Conference. (Conference) Harvard University (2010). Invited speaker.
    Paper: Longevity Risk in Pension Plans: Measuring, Modelling and Managing
    Author: Blake D
  48. Deutscher Investment-Hochschultag: BVI Conference. (Conference) Frankfurt (2010). Invited speaker.
    Paper: Longevity as an Asset Class
    Author: Blake D
  49. Department for Work and Pensions and Netspar: Conference on Risk Sharing in Defined Contribution Pension Schemes. (Conference) Exeter (2010). Invited speaker.
    Paper: Sharing Longevity Risk: Why Governments Should Issue Longevity Bonds
    Author: Blake D
    Co-authors: Tom Boardman
  50. Bocconi University Conference on Protecting Pension Fund Members in Italy. (Conference) Milan (2010).
    Paper: Decumulation Issues in DC Pension Plans
    Author: Blake D
  51. 17th Regional Pension and Provident Fund Conference. (Conference) Nicosia, Cyprus (2010). Invited speaker.
    Paper: Pension Liability Risks: Manage or Sell?
    Author: Blake D
  52. Longevity Six: The Sixth International Conference on Longevity Risk and Capital Market Solutions. (Conference) Sydney (2010). Organising Committee
  53. Living Longer in Good Health Netspar Theme Event. (Public lecture) Tilburg (2009). Invited speaker.
    Paper: The New Life Market
    Author: Blake D
  54. IAA AFIR/Life Colloquium 2009. (Public lecture) Munich (2009). Invited speaker.
    Paper: The New Life Market
    Author: Blake D
  55. Decumulation of Assets – The Impact of the Economic Downturn. (Public lecture) London (2009).
    Paper: Decumulation of Assets in the Current Economic Climate
    Author: Blake D
    Co-authors: Tom Boardman
  56. World Bank Conference: Non-Financial Defined Contribution (NDC) Systems: Progress and New Frontiers in a Changing Pension World. (Conference) Stockholm (2009). Invited speaker.
    Paper: NDC v FDC: Pros & Cons
    Author: Blake D
  57. NAPF Investment Conference 2009. (Conference) Edinburgh (2009). Invited speaker.
    Paper: Investing During Decumulation
    Author: Blake D
  58. Longevity 5: Fifth International Longevity Risk & Capital Markets Solutions Conference. (Conference) New York (2009). Invited speaker.
    Paper: Why Governments Should Issue Longevity Bonds
    Author: Blake D
    Co-authors: Tom Boardman
  59. Longevity 5: Fifth International Longevity Risk & Capital Markets Solutions Conference. (Conference) New York (2009). Invited speaker.
    Paper: Bayesian Stochastic Mortality Modelling for Two Populations
    Author: Blake D
    Co-authors: Andrew Cairns, Kevin Dowd
  60. Longevity 5: Fifth International Longevity Risk & Capital Markets Solutions Conference. (Conference) New York (2009). Invited speaker.
    Paper: A Gravity Model of Mortality Rates for Two Populations
    Author: Blake D
    Co-authors: Kevin Dowd, Andrew Cairns
  61. 17th Gleneagles Savings and Pensions Industry Leaders’ Summit. (Conference) Gleneagles (2009). Invited speaker.
    Paper: Is the Structure of Government Funding Right either for the Economy or as a Source of Instruments for Long-Term Savings?
    Author: Blake D
  62. Longevity Five: The Fifth International Conference on Longevity Risk and Capital Market Solutions. (Conference) New York (2009). Chair and Organising Committee
  63. OECD Seminar on the Payout Phase of Pensions, Annuities and Implications for Financial Markets. (Seminar) Paris (2008). Invited speaker.
    Paper: Longevity Risk Hedging: The Role of the Private & Public Sectors
    Author: Blake D
  64. Association of Pension Lawyers Prestige Lecture 2008. (Public lecture) London (2008). Invited speaker.
    Paper: The Birth of the Life Market: Breathing Life into Longevity Risk and Capital Market Solutions
    Author: Blake D
  65. The Fourth Contractual Savings Conference: Supervisory and Regulatory Issues in Private Pensions and Life Insurance, World Bank. (Conference) Washington DC (2008).
    Paper: Optimal Portfolios for Pension Funds
    Author: Blake D
  66. NAPF Investment Conference 2008. (Conference) Edinburgh (2008).
    Paper: Breathing Life into Mortality
    Author: Blake D
  67. Europass 2008: European Pensions and Savings Summit 2008. (Conference) (2008).
    Paper: Longevity: The Main Challenge for Pension Schemes
    Author: Blake D
  68. Longevity Four: The Fourth International Conference on Longevity Risk and Capital Market Solutions. (Conference) Amsterdam (2008). Chair and Organising Committee
  69. Annual Conference on Frontiers in Pension Finance and Reform 2007, hosted by De Nederlandsche Bank, Netspar, International Organisation of Private Supervisors. Amsterdam (2007).
    Paper: Its all Back to Front: Critical Issues in the Design of Defined Contribution Pension Plans
  70. International Monetary Fund and De Nederlandsche Bank Seminar on Ageing, Pension Risk Management and Financial Stability. Washington DC (2007).
    Paper: Pension Liability Risks: Manage or Sell?
  71. Longevity Three: The Third International Conference on Longevity Risk and Capital Market Solutions. (Conference) Taipei, Taiwan (2007). Organising Committee
  72. Fund Management Conference. Xfi Centre for Finance and Investment, Exeter University (2006).
    Paper: The New Pension Scheme Buy-out Market in the UK
  73. NAPF Annual Conference. ExCel, London (2006).
    Paper: The New Market for Buying Out Schemes – Will it Take Off?
  74. Financial Risks Borne by Households, Autorité des Marchés Financiers (AMF). Palais du Luxembourg, Paris (2006).
    Paper: The Governance of Pension Funds: The UK Experience
  75. Second International Conference on Longevity Risk and Capital Market Solutions. Chicago (2006).
    Paper: Longevity Bonds: Financial Engineering, Valuation & Hedging
  76. Managing Business Risk: Corporate Pensions Post-Turner. Cass – CIMA Conference (2006).
    Paper: The Turner Commission Report and its Critics
  77. Kas Bank Bicentennial 1806-2006. Amsterdam (2006).
    Paper: Pensions and Savings: The UK Experience
  78. Staple Inn Sessional Meeting, Institute of Actuaries. London (2006).
    Paper: Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities
  79. Sessional Meeting, Faculty of Actuaries. Edinburgh (2006).
    Paper: Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities
  80. Longevity Two: The Second International Conference on Longevity Risk and Capital Market Solutions. (Conference) Chicago (2006). Organising Committee
  81. The Challenges Ahead for the Fund Management Industry. Cass Business School (2005).
    Paper: Investment Performance of Mutual Funds & Pension Funds
  82. Fourth City of London Biennial Meeting, International Maritime Organisation. London (2005).
    Paper: Major Issues of the 21st Century: Ageing and Financial Markets
  83. Private Pensions and Social Inclusion: Does Voluntarism Have a Future? London School of Economics (2005).
    Paper: Future Pension Provision in Britain: What Role for the State, the Company and the Citizen?
  84. Hon. Treasurers Forum. Cass Business School (2005).
    Paper: Pension Issues for Charities
  85. Department for Work and Pensions Seminar. (2005).
    Paper: Risk Sharing and Hybrid Pension Plans
  86. H M Treasury – Chinese Banking Regulatory Commission Seminar. (2005).
    Paper: Financial Issues Associated with Pension Provision in China
  87. 13th Gleneagles Savings and Pensions Industry Leaders’ Summit. (2005).
    Paper: Does the UK Market have the Right Products Needed by Savers and Pension Funds
  88. Why Has It All Gone Wrong? The Past, Present and Future of British Pensions, British Academy Symposium. (2005).
    Paper: Overregulating Your Pension out of Existence: The Long Term Consequences of British Pension Policy over the Last 30 Years
  89. Strathclyde University Workshop, 25 May; Savings, Pension Provision and Retirement, Centre for Finance and Investment Conference (Xfi). University of Exeter (2005).
    Paper: Pension Funds Need Three Pillars Too: What the Pension Protection Fund can Learn from the Financial Regulation of Banks and Insurance Companies
  90. AARP Conference. Washington (2005).
    Paper: Voluntary Carve-outs for Social Security Reform: Lessons from the United Kingdom
  91. ABP & PGGM Conference - Pension Plan Design for the Future. Kurhaus Scheveningen, Hague (2005).
    Paper: The UK Experience with Personal Pensions
  92. First International Conference on Longevity Risk and Capital Market Solutions. Cass Business School, London (2005).
    Paper: A Two-Factor Model for Stochastic Mortality with Parameter Uncertainty
  93. Netspar (Network for Studies on Pensions, Ageing & Retirement) Inaugural Conference. Tilburg University (2005).
    Paper: Lessons from the UK Pension Crisis
  94. SIFR, Stockholm, Sweden, 5 October 2005; The Hague, 13 April 2006; World Bank, 26 April 2006. (2005).
    Paper: Developments in Longevity Risk Management
  95. Longevity One: The First International Conference on Longevity Risk and Capital Market Solutions. (Conference) London (2005). Organising Committee and Chair

Media appearances (31)

  1. Fund size warnings: Which funds are least correlated to sector giants? (2014) Fundweb (website).
  2. Cass Business School: Misselling fears stop auto-enrolment extension to low earners. (2014) Money Marketing .co.uk (website).
  3. PA ANALYSIS: New research slams active management, are fee cuts the answer? (2014) Portfolio Adviser.
  4. Cass Business School slams active management and large funds in new studies. (2014) Fundweb (website).
  5. 99% of equity mutual funds fail to outperform - research. (2014) Funds Europe.
  6. Why SPIAs are a Good Deal Despite Low Rates. (2014) ValueWalk (website).
  7. Connect the dots to better investing. (2014) MSN Money.
  8. PENSION PREDICTIONS 2014 In the frame. (2013) Pensions World (magazine).
  9. Cass Business School: Misselling fears stop auto-enrolment extension to low earners. (2013) Money Marketing .co.uk (website).
  10. Pensions Institute launches DC good practice principles. (2013) Pension Funds Online.com (website).
  11. acadwemics launch new blueprint for building mortality models. (2013) institutional asset manager.co.uk (website).
  12. 'Serious weakness' discovered in LGPS funds in London. (2012) Pensions Week.
  13. 'Sky-high' pension charges under fire. (2012) Financial Times (newspaper).
  14. Pension merger proposal gets UK councils thinking. (2012).
  15. Warning on private sector pensions. (2012) Belfast News Letter Group (newspaper).
  16. (2012) Arte TV (television).
  17. (2011) Daily Telegraph (newspaper).
  18. The shrinking male female life span gap. (2011) The New York Times (newspaper).
  19. (2011) www.risk.net (website).
  20. Old Age Can Be A Bonus With A Price Tag. (2010) www.pensionriskmatters.com (website).
  21. Pensions policy will wreck savings plans. (2010) Times (newspaper).
  22. Generazione papy-boom: a rischio di longevit. (2009) www.freeonline.it (website).
  23. CBI calls for longevity bonds push welcomed by industry groups. (2009) Life & Pensions.
  24. Cass Urges UK To Issue Longevity Bonds. (2009) Global Money Management.
  25. Longevity bonds could help funds meet liabilities. (2009) Pensions Week.
  26. (2008).
  27. Regulator favours tougher mortality. (2008) Pensions Age.
  28. Accountants slammed as pension defecits balloon. (2008) www.efinancialnews.com (website).
  29. Rising to the Pensions challenge. (2008) The Banker.
  30. Male Longevity 12 years more than current predictions. (2007) Professional Pensions.
  31. Men 'will live to 91'. (2007) The Sun (newspaper).