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Optimal Annuitization with Incomplete Annuity Markets and Background Risk During Retirement

Nijman, Theo; Werker, Bas J.M.; Peijnenburg, J.M.J. - Tilburg University, Center for Economic Research - 2010

after retirement. This holds irrespective of whether real or only nominal annuities are available. Whenever liquidity is …

Persistent link: https://www.econbiz.de/10011090908

Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers

van Dalen, H.P.; Henkens, K.; Hershey, D.A. - Tilburg University, Center for Economic Research - 2008

Are retirement savings sufficient to finance a good pension income? This highly uncertain and subjective dimension of … American workers in 2007. Despite marked differences in expected and needed pension replacement rates - where the Dutch …

Persistent link: https://www.econbiz.de/10011092199

Health Cost Risk and Optimal Retirement Provision : A Simple Rule for Annuity Demand

Nijman, Theo; Werker, Bas J.M.; Peijnenburg, J.M.J. - Tilburg University, Center for Economic Research - 2010

retirement, full annuitization is not optimal. In the other case of low health cost risk early in retirement, individuals should … cost risk early in retirement may resolve the annuity puzzle. Moreover, we explain the observed pattern of annuitization as … a function of initial wealth at retirement. For personal financial planning purposes, we develop a simple rule of thumb …

Persistent link: https://www.econbiz.de/10011092924

Mobile Money, Trade Credit and Economic Development : Theory and Evidence

Beck, Thorsten; Uras, Burak R.; Pamuk, H.; Ramrattan, R. - Tilburg University, Center for Economic Research - 2015

Using a novel enterprise survey from Kenya (FinAccess Business), we document a strong positive association between the use of mobile money as a method to pay suppliers and access to trade credit. We develop a dynamic general equilibrium model with heterogeneous entrepreneurs, imperfect credit...

Persistent link: https://www.econbiz.de/10011245989

Entrepreneurial Saving Practices and Reinvestment : Theory and Evidence

Beck, Thorsten; Uras, Burak R.; Pamuk, H. - Tilburg University, Center for Economic Research - 2014

We use a novel enterprise survey from Tanzania to gauge the relationship between saving instruments and entrepreneurial reinvestment. While most informal savings practices do not imply a lower likelihood of entrepreneurial reinvestment when compared with formal savings practices, we find a...

Persistent link: https://www.econbiz.de/10011090491

The Role of Desicion Making Processes in the Correlation between Wealth and Health

Binswanger, Johannes; Carman, K.G. - Tilburg University, Center for Economic Research - 2011

take to make decisions can help to explain the correlation in outcomes across domains. We focus particularly on retirement …

Persistent link: https://www.econbiz.de/10011090753

Who Gets the Credit? And Does it Matter? Household vs Firm Lending Across Countries

Beck, Thorsten; Büyükkarabacak, B.; Rioja, F.; Valev, N. - Tilburg University, Center for Economic Research - 2009

While theory predicts different effects of household credit and enterprise credit on the economy, the empirical literature has mainly used aggregate measures of overall bank lending to the private sector. We construct a new dataset from 45 developed and developing countries, decomposing bank...

Persistent link: https://www.econbiz.de/10011091133

When Can Insurers Offer Products That Dominate Delayed Old-Age Pension Benefit Claiming?

De Waegenaere, Anja; Nijman, Theo; Sanders, E.A.T. - Tilburg University, Center for Economic Research - 2010

It is common practice for public pension schemes to offer individuals the option to delay benefit claiming until after … the normal retirement age and adjust the annual benefit level as a result. This adjustment is often not actuarially … nonequivalence in public pension schemes is such that such dominating strategies can exist even when the purchase of annuities would …

Persistent link: https://www.econbiz.de/10011091665

Higher Order Risk Attitudes, Demographics, and Financial Decisions

Noussair, Charles; Trautmann, Stefan T.; Kuilen, Gijs van de - Tilburg University, Center for Economic Research - 2011

We conduct an experiment to study the prevalence of the higher order risk attitudes of prudence and temperance, in a large demographically representative sample, as well as in a sample of undergraduate students. Participants make pairwise choices between lotteries of the form proposed by...

Persistent link: https://www.econbiz.de/10011091811

Credit Cycle and Adverse Selection Effects in Consumer Credit Markets – Evidence from the HELOC Market

Calem, P.; Cannon, M.; Nakamura, L.I. - Tilburg University, Center for Economic Research - 2011

We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions...

Persistent link: https://www.econbiz.de/10011092716