This paper develops a heterogeneous agents model to analyze the effects of Social Security survivors insurance. The model features a negative mortality-income gradient, asymmetric information of individual mortality rates, and a warm-glow bequest motive that varies by age and family structure....

Commercial insurance system acts like a memoryless system in a way that the premiums paid by the policyholders in one accounting period will be of no avail to them during subsequent periods. Here, we argue that if the insurance scheme is implemented as a not-for-profit trust fund (social...

How should we compare welfare across pension systems in presence of differential mortality? A commonly used standard utilitarian criterion implicitly favors the long-lived over the short-lived. We investigate under what conditions this ranking is reversed. We clearly distinguish between the...

This paper uses an OLG model to analyze the dilemma between efficiency and fairness, and then give a numerical simulation for China’s reform practice in pension system with Chinese data.Results showed that :1)Compared to efficiency and fair distribution, partial full-funded syste- m was better...

With the help of five models, this paper analyses pension systems in general and the direct financial effects of the retirement-age-reducing concept mentioned in the title. Th e first part assumes a financially unchanged environment, when earnings are permanent, there is no interest and everyone...

This paper examines a looming possible crisis in many Americans’ retirement plans due to the proliferation of annuity products in their retirement investment portfolios. As defined benefit pension plans have almost completely disappeared as a means of retirement savings and have been replaced...

The competitiveness of financed intermediaries cannot be based exclusively on financial sustainability, i.e. the ability to create profit, but it is also necessary to acquire a transversal vision of sustainability focused on the three ESG dimensions. The paper intends to propose a reflection on...

This study examines the integration of Environmental, Social, and Governance (ESG) factors into global banking practices and their impact on financial stability, measured by the Bank to Capital Asset Ratio. Through a comprehensive literature review and data analysis, the paper highlights the...

This paper explores the critical role of the banking sector in facilitating the ecological transition through the integration of ESG (Environmental, Social, and Governance) factors. By analyzing the intersection of ESG considerations and access to credit globally, the study highlights how banks...

Russian. В статье рассматривается проблема определения степени монополизации страхового сектора Сербии (без Косово и Метохии) в период 2010-2023 гг. Исследование...