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Brunner, Johann K. - 2006

The market for private life annuities is characterised by adverse selection, that is, contracts offer lower than fair payoffs to individuals with low life expectancy. Moreover, life expectancy and income have been found to be positively correlated. The paper shows that a linear tax on annuity...

Persistent link: https://www.econbiz.de/10012781543

Morbidity, Mortality, Health Expenditures and Annuitization

Tang, Kam Ki - 2010

In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different...

Persistent link: https://www.econbiz.de/10012759851

Stimulating Annuity Markets

Heijdra, Ben J. - 2014

We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...

Persistent link: https://www.econbiz.de/10013051616

Tax Incentives, Bequest Motives, and the Demand for Life Insurance : Evidence from Two Natural Experiments in Germany

Sauter, Nicolas - 2010

Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is scarce. This paper studies two natural experiments to identify the effects of tax incentives and bequest motives on life-insurance demand. An unanticipated tax reform in 2000...

Persistent link: https://www.econbiz.de/10013143834

Economic Growth and Longevity Risk with Adverse Selection

Heijdra, Ben J. - 2010

We study a closed economy featuring heterogeneous agents and exhibiting endogenous economic growth due to interfirm external effects. Individual agents differ in terms of their mortality profile. At birth, nature assigns a health status to each agent. Health type is private information and...

Persistent link: https://www.econbiz.de/10013148997

Guaranteed Renewable Life Insurance Under Demand Uncertainty

Hoy, Michael - 2018

Guaranteed renewability is a prominent feature in many health and life insurance markets. It is well established in the literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially fair price for low risk types provides full...

Persistent link: https://www.econbiz.de/10012913273

Remittances, Banking Status and the Usage of Insurance Schemes

Crayen, Dorothee - 2013

Empirical evidence that migrants send home more remittances after disasters raises the question of whether remittances can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a unique data set on the usage patterns of financial services...

Persistent link: https://www.econbiz.de/10013094542

Tax Incentives, Bequest Motives, and the Demand for Life Insurance: Evidence from two Natural Experiments in Germany

Sauter, Nicolas; Walliser, Jan; Winter, Joachim - CESifo - 2010

Persistent link: https://www.econbiz.de/10008534059

Uncertain Bequest Needs and Long-Term Insurance Contracts

Fei, Wenan; Fluet, Claude; Schlesinger, Harris - CESifo - 2008

We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her family, in the event of an untimely death. Ideally,...

Persistent link: https://www.econbiz.de/10005405924

Does Corruption Erode Trust in Government? Evidence from a Recent Surge of Local Scandals in Spain

Solé-Ollé, Albert; Sorribas-Navarro, Pilar - CESifo - 2014

We examine whether a corruption scandal in which the incumbent is implicated undermines trust in local government. We … data on the level of trust expressed in local politicians drawn from a new survey conducted in late 2009. We use matching … methods to improve the identification of the effect of corruption scandals on trust, comparing municipalities affected by a …

Persistent link: https://www.econbiz.de/10010877719