Lifecycle Portfolio Choice with Systematic Longevity Risk and Variable Investment-Linked Deferred Annuities [PDF]
This paper assesses the impact of variable investment-linked deferred annuities (VILDAs) on lifecycle consumption, saving, and portfolio allocation patterns given stochastic and systematic mortality.
Raimond Maurer +3 more
core
Portfolio decisions on life annuities and financial assets with longevity and income uncertainty [PDF]
There are two stylised facts, namely weak demand for life-annuities and flat age-wealth profile that contradict the life-cycle hypothesis. In this paper we design a theoretical framework, which combines plausible arguments, which have been put forward in
Susanne Pech
core
Why Was There More Household Stock Market Participation During the COVID-19 Pandemic? [PDF]
Financ Res Lett, 2022 Zheng W, Li B, Huang Z, Chen L.
europepmc +1 more source
Redistribution by Insurance Market Regulation: Analyzing a Ban on Gender-Based Retirement Annuities [PDF]
This paper shows how models of insurance markets with asymmetric information can be calibrated and solved to yield quantitative estimates of the consequences of government regulation.
Casey Rothschild +2 more
core
Impacto sobre a renda per capita de longo prazo dos sistemas previdenciários de repartição
Economia Aplicada, 1998 In this paper we developed an overlapping generation model in continuos time. The life span of the households has two stages. The first stage begins after birth and ends at the age of retirement.
Samuel de Abreu Pessôa
doaj
Are the Elderly Really Over-Annuitized? New Evidence on Life Insurance and Bequests [PDF]
This paper provides evidence against the hypothesis that elderly individuals with strong bequest motives purchase term life insurance to offset mandatory annuitization by the existing Social Security system.
Jeffrey R. Brown
core
Valuing Guaranteed Minimum Death Benefit Options in Variable Annuities Under a Benchmark Approach [PDF]
Variable annuities (VAs) represent a marked change from earlier life products in the guarantees that they offer and it is no longer possible to manage the risks of these liabilities using traditional actuarial methods.
S. Jaschke, Eckhard Platen, T. Marquardt
core
, 2018 In this paper, we consider illiquid life annuity contracts and show that they may be preferred to those illustrated by Yaari. In an overlapping generations economy, liquid life annuities are demanded only if the equilibrium is dynamically inefficient ...
d'Albis, Hippolyte, Etner, Johanna
core +2 more sources
Valuing Medieval Annuities: Were Corrodies Underpriced? [PDF]
Medieval bishops condemned and restricted the sale of corrodies (a type of annuity), partly on the grounds of their perceived unprofitability. The available data on the profitability of corrodies is limited and little analysed, and the episcopal ...
Adrian Bell, Charles Sutcliffe
core
Optimizing the Retirement Portfolio: Asset Allocation, Annuitization, and Risk Aversion [PDF]
Retirees must draw down their accumulated assets in an orderly fashion so as not to exhaust their funds too soon. We derive the optimal retirement portfolio from a menu that includes payout annuities as well as an investment allocation and a withdrawal ...
Raimond Maurer +3 more
core +2 more sources