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Financial Innovation for an Aging World
Mitchell, Olivia; Piggott, John; Sherris, Michael; Yow, … - National Bureau of Economic Research (NBER) - 2006
on residential property price indices, mortality swaps and longevity derivative contracts. We also indicate how new …
Persistent link: https://www.econbiz.de/10005050013
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Life is Cheap: Using Mortality Bonds to Hedge Aggregate Mortality Risk
Friedberg, Leora; Webb, Anthony - National Bureau of Economic Research (NBER) - 2006
Using the widely-cited Lee-Carter mortality model, we quantify aggregate mortality risk as the risk that the average … substantial mortality risk. We calculate that a markup of 3.7% on an annuity premium (or else shareholders%u2019 capital equal to … uncertain aggregate mortality trends to 5% and a markup of 5.4% would reduce the probability of insolvency to 1%. Using the same …
Persistent link: https://www.econbiz.de/10005036808
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Evidence for Significant Compression of Morbidity In the Elderly U.S. Population
Cutler, David M.; Ghosh, Kaushik; Landrum, Mary Beth - National Bureau of Economic Research (NBER) - 2013
The question of whether morbidity is being compressed into the period just before death has been at the center of health debates in the United States for some time. Compression of morbidity would lead to longer life but less rapid medical spending increases than if life extension were...
Persistent link: https://www.econbiz.de/10010969205
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The Impact of Biomedical Knowledge Accumulation on Mortality: A Bibliometric Analysis of Cancer Data
Lichtenberg, Frank - National Bureau of Economic Research (NBER) - 2013
and the change in the age-adjusted mortality rate from the disease. The diseases analyzed are almost all the different … distinguish between publications indicating and not indicating any research funding support. My estimates indicate that mortality … between mortality growth and growth in the lagged number of publications that were supported by research funding is not driven …
Persistent link: https://www.econbiz.de/10010969223
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Aging and Pension Reform: Extending the Retirement Age and Human Capital Formation
Ludwig, Alexander; Vogel, Edgar; Börsch-Supan, Axel - National Bureau of Economic Research (NBER) - 2013
Projected demographic changes in industrialized and developing countries vary in extent and timing but will reduce the share of the population in working age everywhere. Conventional wisdom suggests that this will increase capital intensity with falling rates of return to capital and increasing...
Persistent link: https://www.econbiz.de/10010969353
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Cohabitation and the Uneven Retreat from Marriage in the U.S., 1950-2010
Lundberg, Shelly; Pollak, Robert A. - National Bureau of Economic Research (NBER) - 2013
Since 1950 the sources of the gains from marriage have changed radically. As the educational attainment of women overtook and surpassed that of men and the ratio of men's to women's wage rates fell, traditional patterns of gender specialization in work weakened. The primary source of the gains...
Persistent link: https://www.econbiz.de/10010969382
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Is There A Case for a "Second Demographic Transition"? Three Distinctive Features of the Post-1960 U.S. Fertility Decline
Bailey, Martha J.; Guldi, Melanie E.; Hershbein, Brad J. - National Bureau of Economic Research (NBER) - 2013
Dramatic fertility swings over the last 100 years have been the subject of large literatures in demography and economics. Recent research has claimed that the post-1960 fertility decline is exceptional enough to constitute a "Second Demographic Transition." The empirical case for a Second...
Persistent link: https://www.econbiz.de/10010969391
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The Effect of Pharmaceutical Innovation on Longevity: Patient-Level Evidence from the 1996-2002 Medical Expenditure Panel Survey and Linked Mortality Public-Use Files
Lichtenberg, Frank - National Bureau of Economic Research (NBER) - 2012
We investigate the effect of the vintage (year of FDA approval) of the prescription drugs used by an individual on his or her survival and medical expenditure. When we only control for age, sex, and interview year, we estimate that a one-year increase in drug vintage increases life expectancy by...
Persistent link: https://www.econbiz.de/10010969419
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A New Method of Estimating Potential Real GDP Growth: Implications for the Labor Market and the Debt/GDP Ratio
Gordon, Robert J. - National Bureau of Economic Research (NBER) - 2014
Forecasts for the two or three years after mid-2014 have converged on growth rates of real GDP in the range of 3.0 to 3.5 percent, a major stepwise increase from realized growth of 2.1 percent between mid-2009 and mid-2014. However, these forecasts are based on the demand for goods and services....
Persistent link: https://www.econbiz.de/10010950750
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Demographics and Entrepreneurship
Lazear, Edward; Liang, James; Wang, Hui - National Bureau of Economic Research (NBER) - 2014
Entrepreneurship requires creativity and business acumen. Creativity may decline with age, but business skills increase with experience in high level positions. Having too many older workers in society slows entrepreneurship. Not only are older workers less innovative, but more significant is...
Persistent link: https://www.econbiz.de/10010950811