China’s economy has experienced rapid growth in the past thirty years. A highlight is in the growth of its insurance industry, whose premiums increased at an annual rate of around 30%. Naturally, people would think that the foreign insurance companies who entered the Chinese market during this...

The Chinese life-insurance industry has experienced major structural changes in recent years, primarily because of increasing demand and the entry of foreign insurers. Although the market is clearly booming, the efficiency of its growth and development is unclear. In this paper, we evaluate the...

For longevity bond pricing, the most popular methods contain the risk-neutral method, the Wang transform and the Sharpe ratio rule. This paper studies robustness of these three methods and investigates connections and differences among them through theoretic analysis and numerical illustrations....

China's private insurance market has been developing rapidly since the 1980s. Regulation of the market has developed in tandem with its growth. This article provides a systematic overview of China's insurance regulatory system and the evolving process of insurance supervision and regulation. The...

We study heat conduction through one-dimensional homogeneous lattices in the presence of the anharmonic nearest-neighbor interaction without an on-site potential. We observe the occurrence of negative differential thermal resistance (NDTR); i.e., there exists a region of temperature difference...

The increasing aging population and social security insufficiency have become serious problems in China. Some developed countries, such as the U.S., Canada, and Japan, have developed reverse mortgage markets as solutions for the aging problem. In this article, a theoretical analysis of the...

We develop and estimate a Ben-Porath model with labor supply in which workers make consumption, human capital investment, retirement, and labor supply decisions. While most work to date on the Ben-Porath model aims to explain the wage growth early in the lifecycle, there has been surprisingly...