Showing 1 - 10 of 2,803
We study equilibrium outcomes in markets with asymmetric information about asset values among both buyers and sellers. In residential real estate markets hard-to-observe neighborhood characteristics are a key source of information heterogeneity: sellers are usually better informed about...
Persistent link: https://www.econbiz.de/10013059752
information on mortality risk. The reason for this contradictory result is the existence of multiple dimensions of private … on mortality risk. A mixture density model is applied to disentangle these two effects …
Persistent link: https://www.econbiz.de/10013034714
it offers higher expected benefits with lower expected shortfalls. Requiring unisex mortality tables in annuity pric …
Persistent link: https://www.econbiz.de/10012784759
This paper examines the distributional implications of mandatory longevity insurance when there is mortality … alternative annuity programs in the presence of differential mortality across groups. This paper embeds that analysis into a life … is welfare enhancing even for those individuals with much higher-than-average expected mortality rates, so long as …
Persistent link: https://www.econbiz.de/10013232883
Substantial research attention has been devoted to the pension accumulation process, whereby employees and those advising them work to accumulate funds for retirement. Until recently, less analysis has been devoted to the pension decumulation process -- the process by which retirees finance...
Persistent link: https://www.econbiz.de/10013229333
France stands out as a country with a low labor force attachment of older workers. A reversal in the trend of French … additional years of life between work and retirement is questionable. Considering mortality and health status, we question the … for given mortality rates; the other using the work/health relationship measured at certain ages to predict the health …
Persistent link: https://www.econbiz.de/10012997903
A ubiquitous and largely unquestioned assumption in studies of housing markets is that there is perfect information about local amenities. This paper measures the housing market and health impacts of 1,600 openings and closings of industrial plants that emit toxic pollutants. We find that...
Persistent link: https://www.econbiz.de/10013088672
In an influential paper, Mian, Rao, and Sufi (2013) exploit geographic variation to measure the effect of the fall in housing net worth on household expenditures during the Great Recession. Their widely-cited estimates are based on proprietary house price and proprietary expenditure data and...
Persistent link: https://www.econbiz.de/10012992649
In this paper we use a 'market-based' approach to examine whether increased school expenditures are valued by potential residents and whether the current level of public school provision is inefficient. We do so by employing an instrumental variables strategy to estimate the effect of state...
Persistent link: https://www.econbiz.de/10013236678
We investigate the effects of wildfires on risk perceptions by quantifying the impact of severe wildfires on housing price and transaction dynamics. Our empirical results are interpreted through the lens of a parsimonious model of sorting between locations that vary in their perceived level of...
Persistent link: https://www.econbiz.de/10013031976