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Bracke, Philippe; Hilber, Christian; Silva, Olmo - London School of Economics (LSE) - 2012

We study the link between homeownership and entrepreneurship by exploiting the longitudinal dimension of the British Household Panel Survey (BHPS) and constructing a detailed monthly-spell dataset that tracks individuals‟ job history and tenure choice, coupled with other time-varying...

Persistent link: https://www.econbiz.de/10011126138

Are annuities value for money?: who can afford them?

Lopes, Paula - London School of Economics (LSE) - 2003

annuities. The model incorporates mortality, inflation, and real interest rate risk. The model draws some interesting … predictions. First, the welfare calculations on the access to annuities markets show that nominal annuities are welfare improving … even when sold at the empirically parameterized cost, which is above fair value. Real annuities are welfare improving over …

Persistent link: https://www.econbiz.de/10010745194

Pensionmetrics 2: stochastic pension plan design during the distribution phase

Blake, David; Cairns, Andrew J. G.; Dowd, Kevin - London School of Economics (LSE) - 2003

We consider the choices available to a defined contribution (DC) pension plan member at the time of retirement for conversion of his pension fund into a stream of retirement income. In particular, we compare the purchase at retirement age of a conventional life annuity (i.e., a bond-based...

Persistent link: https://www.econbiz.de/10010745999

The United Kingdom pension system: key issues

Blake, David - London School of Economics (LSE) - 2003

This paper examines the key issues relating to the UK pension system. It reviews the current system of pension provision, describes and analyses the reforms since 1980, examines the legal regulatory and accounting framework for occupational pension schemes, assesses the different types of risks...

Persistent link: https://www.econbiz.de/10010884512

Developing family development accounts in Taipei: policy innovation from income to assets

Cheng, Li-Chen - London School of Economics (LSE) - 2004

In July 2000, the Taipei City Government launched an anti-poverty program, Taipei Family Development Accounts, which drew heavily on Sherraden¿s asset-based welfare theory, and was to provide matched savings accounts for low-income families in the City. This paper presents the ¿income to...

Persistent link: https://www.econbiz.de/10011126161

Credit card debt and default over the life-cycle

Lopes, Paula - London School of Economics (LSE) - 2003

This paper solves an empirically parameterised model of life-cycle consumption which extends the precautionary savings models of Carroll (1997), and Deaton (1991), to allow for uncollaterized borrowing and default. In case households choose to default: (i) their access to credit markets is...

Persistent link: https://www.econbiz.de/10011071178

Long-term debt and hidden borrowing

Bar-Isaac, Heski; Cuñat, Alejandro - London School of Economics (LSE) - 2005

We consider borrowers with the opportunity to raise funds from a competitive banking sector that shares information, and from an alternative hidden lender. The presence of the hidden lender restricts the contracts that can be obtained from the banking sector. In equilibrium some borrowers obtain...

Persistent link: https://www.econbiz.de/10011071410

Access to finance: a functional approach to supply and demand

Fischer, Gregory - London School of Economics (LSE) - 2011

This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...

Persistent link: https://www.econbiz.de/10011071530

Keeping it simple: financial literacy and rules of thumb

Drexler, Alejandro; Fischer, Gregory; Schoar, Antoinette - London School of Economics (LSE) - 2010

Individuals and business owners engage in an increasingly complex array of financial decisions that are critical for their success and well-being. Yet a growing literature documents that in both developed and developing countries, a large fraction of the population is unprepared to make these...

Persistent link: https://www.econbiz.de/10010884647

UK annuity rates and pension replacement ratios 1957-2002

Cannon, Edmund; Tonks, Ian - London School of Economics (LSE) - 2003

This paper constructs a time series of annuity rates in the UK for 1957-2002, and examines the pricing of UK annuities …

Persistent link: https://www.econbiz.de/10010745656