retirement. Particular attention is paid to the impact of an increase in the risk of losing one s job on the optimal path of … itself sufficient to cause lower consumption, higher saving, and, through faster retirement, lower labor supply …

This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of … 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 …

) versions of tax-advantaged retirement accounts. The model features a progressive tax schedule and uncertainty over future tax … rates. Traditional accounts are valuable for hedging retirement account performance and managing current income near tax …

This paper proposes an innovative retirement product with a focus on longevity risk sharing, a contract we refer to as … tail index-linked annuity (TILA). Specifically, the proposed TILA pays out variable annual payments, which will be equal to … focus in recent literature on innovative retirement products, but also reducing the longevity risk exposure of the insurer …