This article examines how the availability of annuities affects savings and inequality in economies in which neither … CBS utility function indicate that perfecting annuity insurance can significantly reduce national savings. Indeed, the … savings …

newly produced capital differently from old capital. Policies that do make this distinction are denoted investment policies …, while those that do not are labelled savings policies. While both types of policies alter marginal incentives to accumulate … new capital, investment incentives can generate significant inframarginal redistribution from current holders of wealth to …

"hump" savings. A major difference between this study and previous investigations of this issue is the use of more accurate … savings. This paper suggests the importance of and need for substantially greater research and data collection on … intergenerational transfers. fife-cycle models of savings that emphasize savings for retirement as the dominant form of apical …

This article examines how the availability of annuities affects savings and inequality in economies in which neither … CBS utility function indicate that perfecting annuity insurance can significantly reduce national savings. Indeed, the … savings …

"hump" savings. A major difference between this study and previous investigations of this issue is the use of more accurate … savings. This paper suggests the importance of and need for substantially greater research and data collection on … intergenerational transfers. fife-cycle models of savings that emphasize savings for retirement as the dominant form of apical …