Using data for G7 countries over the period from 1950 to 2007, this paper finds that an unexpected shock to the mortality rate is significantly negatively correlated with the equity premium. A one basis point unexpected negative shock to the mortality rate increases both the one-year and...

The probability distribution of earthquake size is needed as input data for some earthquake analyses. A common procedure is to calibrate the so-called b-value in the Gutenberg–Richter relationship and to use it as the best-estimate model parameter in an algorithm to simulate the observed...

In this paper, we report an extension of the space–time conservation element–solution element (CE/SE) framework-based viscous flow solver. With the accuracy of solution obtained through the use of a CE/SE-based solver closely related to the CFL number disparity across the mesh, a new...

This paper proposes a discrete dynamic programming model to maintain pension contribution in a stable level. By assuming an intertemporal stable contribution rate, we derive an algorithm to calculate the optimal contribution that requires less exogenous information and produces more stable...

We examine insurance markets with two types of customers: those who regret suboptimal decisions and those who don.t. In this setting, we characterize the equilibria under hidden information about the type of customers and hidden action. We show that both pooling and separating equilibria can...

How do property liability insurance companies choose their organizational forms and distribution channels? Prior studies have not yet provided a consistent conclusion. In this paper, we propose a reduced form approach to reexamine the relationship between organizational forms and distribution...