Results 51 to 60 of about 465 (165)
Learning in the Limit: Income Inference from Credit Extensions
The Journal of Finance, EarlyView.ABSTRACT Combining a randomized controlled trial with administrative and survey data, this paper shows that credit limit extensions significantly increase total spending and income expectations. By controlling for changes in personal income expectations, the spending response to credit limit extensions weakens by approximately 30%.
XIAO YIN
wiley +1 more source
The influence of negative interest rates on European life insurance companies
Journal of Risk and Insurance, EarlyView.Abstract Between 2016 and 2022, life insurers in several European countries experienced negative long‐term interest rates, which put pressure on their business models. The aim of this paper is to empirically investigate the impact of negative interest rates on the stock performance of life insurers.
Nicolaus Grochola
wiley +1 more source
Employee savings in defined contribution plans: Evidence from age‐based policies in employer plans
Journal of Risk and Insurance, EarlyView.Abstract Retirement saving is a critical form of self‐insurance at older ages, but ensuring that such savings are adequate remains a challenge in the United States. This is especially true for those who save through defined contribution (DC) plans, in which participants are responsible for setting both the amount and the investment strategy.
Brent J. Davis +2 more
wiley +1 more source
Journal of Risk and Insurance, EarlyView.Abstract In many low‐ and middle‐income countries, social insurance provides basic pension benefits with limited cover for illness and care costs, while private insurance markets are underdeveloped. Using an online survey of retirement portfolio choices in urban China, we examined the stated demand for longevity, critical illness, and long‐term care ...
Cheng Wan +3 more
wiley +1 more source
Selection in car insurance when claims are heterogeneous
Journal of Risk and Insurance, EarlyView.Abstract Econometric studies of insurance markets have analyzed the Positive Correlation Property to test for the presence of asymmetric information. Car‐insurance studies frequently compare policies purchasing Mandatory Third‐Party Liability alone with policies that purchase additional coverage and use the presence of a liability claim as a measure of
Edmund Cannon +2 more
wiley +1 more source
Variable Annuities and Systemic Risk
Annales des Mines - Réalités industrielles, 2020 This chapter argues that variable annuities may cause systemic risk in the insurance sector. Life insurers, in particular in the US, have transformed their business by moving from largely diversifiable activities to taking on market risk. This exacerbated by the fact the variable annuities are typically supplemented with guarantees. Such guarantees are
openaire +2 more sources
Design and pricing of private long‐term care insurance: An Australian analysis
Journal of Risk and Insurance, EarlyView.Abstract Private long‐term care insurance (LTCI) is unavailable in many countries, including Australia, where individuals rely on government support and retirement savings for aged care. This study explores the design and pricing of private LTCI products covering out‐of‐pocket costs, using a model of chronic illness and disability in Australia.
Kyu Park, Michael Sherris
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VARIABLE ANNUITIES: A NEW CONCEPT FOR MEETING INFLATION *) [PDF]
MAB, 1956 William C. Greenough
doaj +3 more sources
Risk Management and Insurance Review, EarlyView.Abstract This study examines whether underwriting methods—representation, medical examination, extra premiums, and coverage—effectively mitigate adverse selection using data from an insurance company. Regarding representation, we focus on statements disclosing pre‐existing medical conditions.
Chia‐Ling Ho +3 more
wiley +1 more source
Social welfare effects of annuitization in small open economies
The Scandinavian Journal of Economics, EarlyView.Abstract This paper develops a theory of when annuitization improves or reduces social welfare. The analysis is based on a small open economy with exogenous prices, populated by overlapping generations of non‐altruistic agents. Annuities provide longevity risk insurance and above‐market returns, but also reduce accidental bequests that transfer ...
Tim D. Maurer
wiley +1 more source