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We study the valuation of variable annuities for an insurer. We concentrate on two types of these contracts that are the guaranteed minimum death benefits and the guaranteed minimum living benefits ones and that allow the insured to withdraw money from the associated account. As for many...
Persistent link: https://www.econbiz.de/10010821370
In this paper, we work on indifference valuation of variable annuities and give a computation method for indifference fees. We focus on the guaranteed minimum death benefits and the guaranteed minimum living benefits and allow the policyholder to make withdrawals. We assume that the fees are...
Persistent link: https://www.econbiz.de/10010899322
addressing here is: should uncertainty about future preferences lead to a more conservative attitude towards environment … environment than ours, but this result relies heavily on the assumption of a separability between consumption and environmental … (impatience, intertemporal flexibility, natural capacities of regeneration of the environment, relative preference for the …
Persistent link: https://www.econbiz.de/10010750447
the use of environmental services and so is a direct cause of environmental degradation. The environment is valued both as … marginal discount rate allows us to avoid the depletion of the environment. …
Persistent link: https://www.econbiz.de/10010750484
The Kyoto Protocol, which came in force in February 2005, allows countries to resort to «supplementary activities» consisting particularly in carbon sequestration in agricultural soils. Existing papers studying the optimal carbon sequestration recognize the importance of the temporality of...
Persistent link: https://www.econbiz.de/10010750832
This study is a comprehensive, empirical analysis of the linkages between governance, institutions, and regional … infrastructure. The empirical results indicate that governance and institutions are crucial for regional infrastructure development … : every one point improvement in governance results in a 1 to 1.5 point rise in regional infrastructure. Countries (and …
Persistent link: https://www.econbiz.de/10009363303
The primary objective of this paper is to find whether or not the governance and institutions matter for enhancing … Asias trade. In this study, we have performed a comprehensive empirical analysis of the linkages between governance and … trade at the Asian subregional level. Our results indicate that all individual governance indicators except regulatory …
Persistent link: https://www.econbiz.de/10009365058