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The economics of insurance, its borders with finance and implications for systemic regulation
Thimann, Christian - 2015
Global financial regulators are currently reflecting on the nature of the insurance business. Specifically, they are trying to classify insurance into "traditional" and "non-traditional" activities, and to distinguish them from "non-insurance" activities. Subsequently, they will seek to apply...
Persistent link: https://www.econbiz.de/10010479958
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Guaranteed renewable life insurance under demand uncertainty
Hoy, Michael; Mirza, Afrasiab; Sadanand, Asha B. - 2018
unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over … individuals' lifetimes. The presence of demand type heterogeneity leads to the possibility that optimal GR contracts may have a … whose type turns out to be high risk but low demand renew more of their GR insurance than is efficient due to the attractive …
Persistent link: https://www.econbiz.de/10011864322
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Adverse selection in an insurance market with government-guaranteed subsistence levels
Kim, Bum J.; Schlesinger, Harris - 2004
alters the individuals' demand for insurance coverage. In turn, this affects equilibria in various insurance models of …
Persistent link: https://www.econbiz.de/10011449545
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Policies for electrification of the car fleet in the short and long run : subsidizing electric vehicles or subsidizing charging stations?
Hagem, Cathrine; Kverndokk, Snorre; Nævdal, Eric; … - 2022
sector in Norway. The numerical simulations confirm the results of the theory model. Flexibility in the domestic target over …
Persistent link: https://www.econbiz.de/10013187530
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The effects of cash for clunkers on local air quality
Helm, Ines; Koch, Nikolas; Rohlf, Alexander - 2023
not simply reallocate demand across time in the short-term. Nevertheless, about half of all subsidized buyers benefited …
Persistent link: https://www.econbiz.de/10014307150
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Uncertain bequest needs and long-term Insurance contracts
Fei, Wenan; Fluet, Claude; Schlesinger, Harris - 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/10003805992
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A continuous theory of income insurance
Lindbeck, Assar; Persson, Mats - 2010
In this paper we treat an individual's health as a continuous variable, in contrast to the traditional literature on income insurance, where it is regularly treated as a binary variable. This is not a minor technical matter; in fact, a continuous treatment of an individual's health sheds new...
Persistent link: https://www.econbiz.de/10003978015
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Risk, return and portfolio allocation under alternative pension arrangements with imperfect financial markets
Miles, David; Černý, Aleš - 2001
This paper uses stochastic simulations on calibrated models to assess the steady state impact of different pension arrangements in an environment where financial markets are less than perfect. Surprisingly little is known about the optimal split between funded and unfunded systems when there are...
Persistent link: https://www.econbiz.de/10011398101
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Life insurance, precautionary saving and contingent bequest
Chang, Fwu-ranq - 2001
may shrink. The demand for life insurance is positively related to the number, age differentials, living standards, and …
Persistent link: https://www.econbiz.de/10011398104
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Heterogeneous beliefs and the demand for D&O insurance by listed companies
Egger, Peter; Radulescu, Doina; Rees, Ray - 2014
This paper introduces a new rationale for the existence of "Directors' and Officers'" (D&O) insurance. We use a model with volatile stock markets where shareholders design compensation schemes that incentivize managers to stimulate short-term increases in stock prices that do not maximize long...
Persistent link: https://www.econbiz.de/10010237759