Table 1 Simulation assumption.
Stock weight (SW) | Inflation | Wage growth rate | Investment return | ||
|---|---|---|---|---|---|
0% | Mean | Economic assumption 3 | 1.20% | 2.30% | 0.70% |
Economic assumption 5 | 0.80% | 1.60% | 0.49% | ||
Standard deviation | 0.91% | 1.62% | 2.56% | ||
Correlation | Inflation | 1.0000 | 0.5494 | 0.2590 | |
Wage growth rate | 0.5494 | 1.0000 | 0.0420 | ||
Investment return | 0.2590 | 0.0420 | 1.0000 | ||
25% | Mean | Economic assumption 3 | 1.20% | 2.30% | 2.84% |
Economic assumption 5 | 0.80% | 1.60% | 1.99% | ||
Standard deviation | 0.91% | 1.62% | 8.38% | ||
Correlation | Inflation | 1.0000 | 0.5494 | −0.0721 | |
Wage growth rate | 0.5494 | 1.0000 | 0.0752 | ||
Investment return | −0.0721 | 0.0752 | 1.0000 | ||
50% | Mean | Economic assumption 3 | 1.20% | 2.30% | 4.03% |
Economic assumption 5 | 0.80% | 1.60% | 2.82% | ||
Standard deviation | 0.91% | 1.62% | 12.32% | ||
Correlation | Inflation | 1.0000 | 0.5494 | −0.0753 | |
Wage growth rate | 0.5494 | 1.0000 | 0.1027 | ||
Investment return | −0.0753 | 0.1027 | 1.0000 | ||
75% | Mean | Economic assumption 3 | 1.20% | 2.30% | 5.21% |
Economic assumption 5 | 0.80% | 1.60% | 3.65% | ||
Standard deviation | 0.91% | 1.62% | 16.92% | ||
Correlation | Inflation | 1.0000 | 0.5494 | −0.0740 | |
Wage growth rate | 0.5494 | 1.0000 | 0.1124 | ||
Investment return | −0.0740 | 0.1124 | 1.0000 | ||
100% | Mean | Economic assumption 3 | 1.20% | 2.30% | 6.40% |
Economic assumption 5 | 0.80% | 1.60% | 4.48% | ||
Standard deviation | 0.91% | 1.62% | 21.75% | ||
Correlation | Inflation | 1.0000 | 0.5494 | −0.0724 | |
Wage growth rate | 0.5494 | 1.0000 | 0.1167 | ||
Investment return | −0.0724 | 0.1167 | 1.0000 | ||
