focuses on three large Continental European countries: France, Germany, and Italy. These countries have large pay …

-equilibrium overlapping generations model to incorporate realistic patterns of fertility and mortality and shocks to productivity, fertility … and mortality, we evaluate the effectiveness of the three public pension systems at spreading the effects of such shocks … fertility and mortality shocks, but that this is not the case for productivity shocks, for which the pension systems actually …

Transitions from high mortality and fertility to low mortality and fertility can be beneficial to economies as large …

We develop a pair of risk measures, health and mortality delta, for the universe of life and health insurance products …. A life-cycle model of insurance choice simplifies to replicating the optimal health and mortality delta through a … portfolio of insurance products. We estimate the model to explain the observed variation in health and mortality delta implied …

find evidence that those who claim prior to the full retirement age have higher subjective and actual mortality rates than …

individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … plans, calibrated on the US case. Compared to a benchmark non-redistributive plan that accounts for differences in mortality …