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Two-variable developments of the n-ages method

This paper is devoted mainly to the extension of the n-ages method of approximation for product-sums to summations in respect of two variables; some uses in valuation work of the formulae developed are indicated and illustrated arithmetically. Hitherto, apart from a special formula devised for the particular purpose of illustrating the possibilities of valuing whole-life assurances by limited payments grouped by years of entry (J.I.A. Vol. 64), the n-ages method has been confined to one variable.

Towards a managed monetary system

It is now widely recognized that the future must see far-reaching changes in our monetary system, and that these changes must be in the direction of a conscious and planned management, as distinct from leaving the system to be regulated in a more or less automatic manner by factors which reflect and are governed by international conditions; that the monetary system should in fact be made to serve and not govern the requirements of the economic system.

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