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retirement and two types of individuals, who differ in their life expectancy. In order to introduce the existence of limited …-time pension insurance, we consider a model where for each period of retirement separate contracts can be purchased. Demand for the …
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retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement …
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with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the … periods of retirement. Varying the time structure of the payoffs affects annuity demand and welfare of individuals with low …
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retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement …
Persistent link: https://www.econbiz.de/10001731756
Persistent link: https://www.econbiz.de/10003412086
with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the … periods of retirement. Varying the time structure of the payoffs affects annuity demand and welfare of individuals with low …
Persistent link: https://www.econbiz.de/10009750561
When information on longevity (survival functions) is unknown early in life, individuals have an interest to insure themselves against future "risk-class" classification. Accordingly, the First-Best typically involves transfers across states of nature. Competitive equilibrium cannot provide such...
Persistent link: https://www.econbiz.de/10011506208