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The Tragedy of Annuitization
Heijdra, Ben J.; Mierau, Jochen O.; Reijnders, Laurie S. M. - CESifo - 2010
competitive life insurance market offering actuarially fair annuities. There exists a tragedy of annuitization: although full …
Persistent link: https://www.econbiz.de/10008511614
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Annuity Market Imperfection, Retirement and Economic Growth
Heijdra, Ben J.; Mierau, Jochen O. - CESifo - 2009
We study the effects of an annuity market imperfection on individual agents’ labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...
Persistent link: https://www.econbiz.de/10005013054
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Economic Growth and Longevity Risk with Adverse Selection
Heijdra, Ben J.; Reijnders, Laurie S. M. - CESifo - 2009
fair perfect insurance. In the SE all agents are savers throughout their lives. The informational asymmetry precludes the … rather small, whilst those of PE versus no annuities at all (NAE) are rather large. An imperfect insurance is better than no … insurance at all, both at the microeconomic and at the macroeconomic level. …
Persistent link: https://www.econbiz.de/10008583659
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Annuity Market Imperfection, Retirement and Economic Growth
Heijdra, Ben J. - 2009
We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...
Persistent link: https://www.econbiz.de/10013157843
Cover Image
The Tragedy of Annuitization
Heijdra, Ben J. - 2010
competitive life insurance market offering actuarially fair annuities. There exists a tragedy of annuitization: although full …
Persistent link: https://www.econbiz.de/10013139630
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Economic Growth and Longevity Risk with Adverse Selection
Heijdra, Ben J. - 2010
fair perfect insurance. In the SE all agents are savers throughout their lives. The informational asymmetry precludes the … rather small, whilst those of PE versus no annuities at all (NAE) are rather large. An imperfect insurance is better than no … insurance at all, both at the microeconomic and at the macroeconomic level …
Persistent link: https://www.econbiz.de/10013148997
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Social Identity and Redistributive Preferences: A Survey
Costa-i-Font, Joan; Cowell, Frank - CESifo - 2013
Social identity has become accepted as a key concept underpinning the endogeneity of economic behaviour and preferences. It is important in explaining attitudes towards redistribution and pro-social behaviour. We examine how economic theory measures social identity and its effects on preferences...
Persistent link: https://www.econbiz.de/10010701093
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Direct Distribution of Rents and the Resource Curse in Iran: A Micro-econometric Analysis
Farzanegan, Mohammad Reza; Habibpour, Mohammad - CESifo - 2014
Our goal is to examine the income inequality and welfare effects of the direct distribution of resource rents and … rents-induced inequality. …
Persistent link: https://www.econbiz.de/10010781552
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Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets
Gottardi, Piero; Kajii, Atsushi; Nakajima, Tomoyuki - CESifo - 2011
We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it is optimal to tax the risky labor income and subsidize capital, while a...
Persistent link: https://www.econbiz.de/10009293486
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The Lindahl Equilibrium in Schumpeterian Growth Models: Knowledge Diffusion, Social Value of Innovations and Optimal R&D Incentives
Gray, Elie; Grimaud, André - CESifo - 2014
What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly considering knowledge diffusion on a Salop (1979)...
Persistent link: https://www.econbiz.de/10010748305