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Long-Term Care Policy, Myopia and Redistribution

Cremer, Helmuth - 2012

loading costs can justify social LTC insurance and/or the subsidization of private insurance. We use a two-period model …

Persistent link: https://www.econbiz.de/10013104574

Guaranteed Renewable Life Insurance Under Demand Uncertainty

Hoy, Michael - 2018

Guaranteed renewability is a prominent feature in many health and life insurance markets. It is well established in the literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially fair price for low risk types provides full...

Persistent link: https://www.econbiz.de/10012913273

The Tragedy of Annuitization

Heijdra, Ben J. - 2010

We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a positive probability of passing away before...

Persistent link: https://www.econbiz.de/10013139630

Economic Growth and Longevity Risk with Adverse Selection

Heijdra, Ben J. - 2010

We study a closed economy featuring heterogeneous agents and exhibiting endogenous economic growth due to interfirm external effects. Individual agents differ in terms of their mortality profile. At birth, nature assigns a health status to each agent. Health type is private information and...

Persistent link: https://www.econbiz.de/10013148997

Stimulating Annuity Markets

Heijdra, Ben J. - 2014

We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...

Persistent link: https://www.econbiz.de/10013051616

Morbidity, Mortality, Health Expenditures and Annuitization

Tang, Kam Ki - 2010

In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different...

Persistent link: https://www.econbiz.de/10012759851

Flexible Life Annuities

Direr, Alexis - 2021

Annuity contracts typically deliver a stream of income at a predetermined level in order to insure against the risk of longevity. This paper explores whether flexible annuities, which give subscribers the possibility to choose between different levels for their annuities, may be welfare...

Persistent link: https://www.econbiz.de/10013316810

Cutting Costs of Catching Carbon - Intertemporal Effects Under Imperfect Climate Policy

Hoel, Michael - 2015

We use a two-period model to investigate intertemporal effects of cost reductions in climate change mitigation technologies for the power sector. With imperfect climate policies, cost reductions related to carbon capture and storage (CCS) may be more desirable than com-parable cost reductions...

Persistent link: https://www.econbiz.de/10013038364

Flexible Contracts

Gottardi, Piero - 2012

This paper studies the costs and benefits of delegating decisions to superiorly informed agents relative to the use of … play then an important role in determining the costs of delegation. The main focus of the paper lies indeed in the analysis … of these costs and the consequences for whether or not delegation is optimal.We determine and characterize the properties …

Persistent link: https://www.econbiz.de/10013116425

A Market for Connections

Miettinen, Topi - 2012

connections in the presence of convex costs of networking …

Persistent link: https://www.econbiz.de/10013106547