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My research focuses on the saving and pooling institutions that mediate the inter-generational economy and the economic and demographic fundamentals that underlie them 




I obtained my PhD from the Wharton School of the University of Pennsylvania in 2002.  I am a Fellow of the Faculty of Actuaries in Edinburgh, UK, and have held academic appointments at Oxford University, Imperial College, the University of the Witwatersrand, Johannesburg and the University of Georgia, where I currently teach.

While teaching at Imperial College, I developed an MSc in Actuarial Finance, allowing actuarial science to be taught at Imperial for the first time, and helping to modernize the actuarial curriculum in the UK in line with the recommendations of the Morris Review.

I have also been active in policy.  In my native South Africa, I acted as a policy advisor at senior level for the National Treasury where I advised the Treasury on various aspects of retirement fund regulation, including taxation policy, defaults, scheme design, social security policy and the pension fund for state employees.  When living in the UK, I did various projects for the Pension Protection Fund and the Department for Work and Pensions.

Member: Risk Theory Society, American Risk and Insurance Association, Southern Risk and Insurance Association, American Economic Association, Royal Economic Society, Population Association of America, National Transfer Accounts Network 

Fellow: Faculty of Actuaries, UK

Associate editor: Risk Management and Insurance Review


Editorial Board member: Journal of Pension Economics and Finance, Journal of Real Estate Finance and Economics

Treasurer: Southern Risk and Insurance Association


My publications in refereed journals can be viewed by clicking each paper in the slide show to the right.  Clicking the button below will take you to my publications page.



Reports from policy projects I have worked on can be found by clicking the slide show to the right or on the button below.


©2022 by David McCarthy. 

Moore-Rooker Hall A415

University of Georgia

Athens, GA


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