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 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...

The finternet is an emerging concept in global finance. The finternet is a term used to describe financial systems that are interconnected to one another like the internet. The finternet is a vision of the financial system of the future and Africa cannot be left behind in the race to transition...

Il presente studio esamina l'impatto dei fattori ESG-Environment, Social and Governance sui modelli creditizi delle banche italiane e sulla domanda di mutui delle famiglie nelle diverse macro-regioni del paese dal 2009 al 2022. La transizione verso pratiche di finanza sostenibile è analizzata...

The article reviews the linkage of banking credit with technological innovation at global level underlining that access to finance is important for and innovation. The domestic credit percentage involving the private sector to GDP allows projects of high risk but with a very high reward,...