annuities. Every section of the paper try to address one specific question, naming: How important is the ageing problem in the … for the elderly? Why the annuities market is so thin? Why the annuities market only develop when there is a mandate to …

We explore the proposition that expected longevity affects retirement decisions and accumulated wealth using micro data … drawn from the Health and Retirement Study for the United States. We use data on a person’s subjective probability of … survival to age 75 as a proxy for their prospective lifespan. In order to control for the presence of measurement error and …

-time pension insurance, we consider a model where for each period of retirement separate contracts can be purchased. Demand for the … retirement and two types of individuals, who differ in their life expectancy. In order to introduce the existence of limited … choose sequential contracts can be an equilibrium and that this outcome is favourable for the long-living, but is …