Optimal Portfolio Choice with Annuitization [PDF]
We study the optimal consumption and portfolio choice problem over an individual's life-cycle taking into account annuity risk at retirement. Optimally, the investor allocates wealth at retirement to nominal, inflation-linked, and variable annuities and ...
Koijen, R.S.J. +2 more
core +1 more source
The impact of amortization of gene therapies funding on the results and conclusions of CEMs and BIMs. [PDF]
J Mark Access Health Policy, 2023 Polek H +5 more
europepmc +1 more source
The Archer-Shaw Social Security Plan: Laying the Groundwork for Another S&L Crisis [PDF]
, 2000 The Social Security reform plan proposed by Reps. Bill Archer (R-Tex.) and Clay Shaw (R-Fla.), chairmen, respectively, of the House Ways and Means Committee and its Subcommittee on Social Security, is a compromise between a Clinton administration plan to
Andrew G. Biggs
core
Annuity markets and benefit design in multi-pillar pension schemes : experience and lessons from four Latin American countries [PDF]
A growing number of countries have introduced mandatory defined contribution schemes. As these schemes mature, their success will increasingly depend on how well they translate accumulated funds into a stream of retirement income. Successful reforms will
Palacios, Robert, Rofman, Rafael
core
Effects of COVID-19 early release of pension funds: The case of Chile. [PDF]
J Risk Insur, 2021 Lorca M.
europepmc +1 more source
Understanding Individual Account Guarantees [PDF]
Demographic aging renders workers vulnerable to the inherent uncertainty of unfunded social security systems. This realization has set off a global wave of social security reforms, and more than 20 countries have set up Individual Accounts (IA) plans in ...
Marie-Eve Lachance, Olivia S. Mitchell
core
Stress Testing of Probability of Default of Individuals [PDF]
This paper introduces a model for stress testing of probability of default of individuals. The model rests on assumption that the individual defaults if his savings fall below zero.
Aleš Slabý +2 more
core +1 more source
Life-Cycle Asset Allocation with Annuity Markets: Is Longevity Insurance a Good Deal? [PDF]
We derive the optimal portfolio choice over the life-cycle for households facing labor income, capital market, and mortality risk. In addition to stocks and bonds, households also have access to incomplete annuity markets offering a hedge against ...
Michael Stamos +2 more
core
The Trick is to Live: Is the Estate Tax Social Security for the Rich? [PDF]
Because estate tax liability usually depends on how long one lives, it implicitly provides annuity income. In the absence of annuity markets, lump-sum estate taxation may be used to achieve the first-best solution for individuals with a sufficiently ...
Wojciech Kopczuk
core
Forecasting study of food-related patents protected by the University of Brasilia, Brazil: Case study. [PDF]
Heliyon, 2023 Neves RF +3 more
europepmc +1 more source