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Adverse selection in the group life insurance market

Harris, Timothy; Yelowitz, Aaron S.; Talbert, Jeffery; … - 2022

The employer-sponsored life insurance (ESLI) market is particularly susceptible to adverse selection due to community-rated premiums, guaranteed issue coverage, and the existence of a well-functioning individual market as a substitute. Using administrative payroll and healthcare claims data from...

Persistent link: https://www.econbiz.de/10012804121

Testing for the option value of migration

Locher, Lilo - 2001

Using uncertainty about the future returns to migration, the option value theory of migration can explain low migration … rates in spite of huge wage differences. This paper presents the theory in a simple two-period framework and uses ethnic … as theory predicts. …

Persistent link: https://www.econbiz.de/10011405562

Human capital risk, contract enforcement, and the macroeconomy

Krebs, Tom; Kuhn, Moritz; Wright, Mark L. J. - 2015

We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent...

Persistent link: https://www.econbiz.de/10011308568

Enrolment in micro life and health insurance : evidences from Sri Lanka

Bendig, Mirko; Arun, Thankom - 2011

Microinsurance is an emerging concept protecting households from the potentially catastrophic expenditures associated with family related shocks. Therefore, this paper presents evidence on the determinants of insurance participation using probit models on household survey data from Sri Lanka,...

Persistent link: https://www.econbiz.de/10009124753

Did COVID-19 change life insurance offerings?

Harris, Timothy; Yelowitz, Aaron S.; Courtemanche, Charles - 2020

The profitability of life insurance offerings is contingent on accurate projections and pricing of mortality risk. The COVID-19 pandemic created significant uncertainty, with dire mortality predictions from early forecasts resulting in widespread government intervention and greater individual...

Persistent link: https://www.econbiz.de/10012322278

Uncertainty and the politics of employment protection

Vindigni, Andrea (contributor) - 2008

This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...

Persistent link: https://www.econbiz.de/10003719624

Supply theory sans profit-maximization

Dasgupta, Indraneel - 2009

predictive content of the traditional theory of competitive supply. A number of key results in the deterministic theory follow as … predictive content of the classical theory of competitive firm behavior from its a priori roots in profit maximization, while … subsuming the traditional theory as a special case. -- Supply aggregation ; stochastic supply function ; stochastic consistency …

Persistent link: https://www.econbiz.de/10003810898

The identification and economic content of ordered choice models with stochastic thresholds

Cunha, Flávio (contributor); Heckman, James J. (contributor) - 2007

This paper extends the widely used ordered choice model by introducing stochastic thresholds and interval-specific outcomes. The model can be interpreted as a generalization of the GAFT (MPH) framework for discrete duration data that jointly models durations and outcomes associated with...

Persistent link: https://www.econbiz.de/10003608454

Testing for restricted stochastic dominance

Davidson, Russell (contributor); … - 2006

Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two distributions. These tests have a null hypothesis of nondominance, with the advantage that, if this null is rejected, then all that is left is dominance. This also leads us to...

Persistent link: https://www.econbiz.de/10003301664

Dynamic efficiency and pareto optimality in a stochastic OLG model with production and social security

Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2000

We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...

Persistent link: https://www.econbiz.de/10011339089

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