Add to ORKGUsing U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market demand. We find that annuity market participation increases with financial wealth, life expectancy and education and decreases with other pension income and a possible bequest motive for surviving spouses. We then show that these empirically-motivated determinants of annuity market participation have the same, quantitatively important, e¤ects in a life-cycle model of annuity demand, saving and portfolio choice. Moreover, reasonable preference parameters predict annuity demand levels comparable to the data, thereby questioning the conventional wisdom that limited annuity market participation is a puzzle to be explained
We investigate whether a rare event (like the default of the annuity provider) can explain the annui...
There is a pressing need for a better understanding of how access to various types of financial pro...
We investigate whether a rare event (like the default of the annuity provider) can explain the annui...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market dem...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market dem...
Using microeconomic data for the United Kingdom, we analyze the empirical determinants of voluntary ...
Using UK microeconomic data, we analyze the empirical determinants of voluntary annuity market deman...
Using microeconomic data for the United Kingdom, we analyze the empirical determinants of voluntary ...
Using microeconomic data for the United Kingdom, we analyze the empirical determinants of voluntary ...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary an-nuity market de...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary an-nuity market de...
Longevity is increasing in the whole world, and savings for retirement are growing quickly. There is...
This paper solves an empirically parameterized model of households’ optimal demand for nominal and i...
There is a pressing need for a better understanding of how access to various types of financial prod...
Longevity is increasing in the whole world, and savings for retirement are growing quickly. There is...
We investigate whether a rare event (like the default of the annuity provider) can explain the annui...
There is a pressing need for a better understanding of how access to various types of financial pro...
We investigate whether a rare event (like the default of the annuity provider) can explain the annui...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market dem...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market dem...
Using microeconomic data for the United Kingdom, we analyze the empirical determinants of voluntary ...
Using UK microeconomic data, we analyze the empirical determinants of voluntary annuity market deman...
Using microeconomic data for the United Kingdom, we analyze the empirical determinants of voluntary ...
Using microeconomic data for the United Kingdom, we analyze the empirical determinants of voluntary ...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary an-nuity market de...
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary an-nuity market de...
Longevity is increasing in the whole world, and savings for retirement are growing quickly. There is...
This paper solves an empirically parameterized model of households’ optimal demand for nominal and i...
There is a pressing need for a better understanding of how access to various types of financial prod...
Longevity is increasing in the whole world, and savings for retirement are growing quickly. There is...
We investigate whether a rare event (like the default of the annuity provider) can explain the annui...
There is a pressing need for a better understanding of how access to various types of financial pro...
We investigate whether a rare event (like the default of the annuity provider) can explain the annui...