The Economic Theory of Annuities 5 pot
The Economic Theory of Annuities by Eytan Sheshinski_8 potx
... accross states of nature). Sequential annuity market equilibrium is characterized by the purchase of long-term annuities, short sale of some of these annuities later on, or the purchase of additional short-term ... longevity risk. Further, to respond to the desire of individuals for flexibility, the model should allow for short sales of annuities purchased early or...
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities by Eytan Sheshinski_1 pdf
... chapter 15. tex 132 • Chapter 15 bundles of annuities and long-term care insurance (at ages 65 and 75) and found that the cost of the hypothetical bundle was lower by 3 to 5 percent compared to the ... tends to mitigate the effects of adverse selection because, when bundled, the negative correlation between the costs of these products reduces the overall variation...
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities by Eytan Sheshinski_3 ppt
... Annuity (in $). Period=certain Age 50 Age 65 Age 70 MFMFMF 0-year 51 4 492 655 6 05 747 677 10-year 50 9 490 630 59 2 694 649 20-year 498 484 56 9 55 5 59 1 58 3 Notes: M, male; F, female. Income starts ... description of the motivation for and the stipulations of these annuities from a textbook for actuaries: These are usually effected to avoid the disappointment that i...
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities by Eytan Sheshinski_4 ppt
... 0.440 451 0 .58 62 05 0 .59 39 75 0.706870 83 0.39 958 1 0 .55 0 354 0 .55 6727 0.674371 84 0. 358 884 0 .51 3134 0 .51 8386 0.639648 85 0.3188 05 0.474641 0.479222 0.602670 86 0.279836 0.4 350 65 0.43 956 1 0 .56 3491 87 0.242486 ... 0.7437 35 0. 758 039 0.838109 78 0 .59 8 456 0.7 150 46 0.72 857 8 0.8 157 99 79 0 .56 0408 0.6 850 27 0.697360 0.791601 80 0 .52 1200 0. 653 5 85 0.664...
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities by Eytan Sheshinski_5 doc
... (8.21), the interpretation of this result is that the flow of returns from annuities held at age M can be matched, using the relevant risk-class survival function of the holder of the annuities, ... interest on assets, the competitive rate of return on annuities is equal to the rate of interest plus the hazard rate. The reason is obvious: The issuers of...
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities by Eytan Sheshinski_6 pdf
... total consumption in the second period. The second term is the sum of the expected utilities of two surviving individuals, while the third is the expected utility of one survivor. The budget constraint ... remains constant (figure 5. 2). The reason for the difference in the pattern of optimum retirement is straightforward. Without discounting, the importance of...
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities_5 pot
... 0.440 451 0 .58 62 05 0 .59 39 75 0.706870 83 0.39 958 1 0 .55 0 354 0 .55 6727 0.674371 84 0. 358 884 0 .51 3134 0 .51 8386 0.639648 85 0.3188 05 0.474641 0.479222 0.602670 86 0.279836 0.4 350 65 0.43 956 1 0 .56 3491 87 0.242486 ... 0.7437 35 0. 758 039 0.838109 78 0 .59 8 456 0.7 150 46 0.72 857 8 0.8 157 99 79 0 .56 0408 0.6 850 27 0.697360 0.791601 80 0 .52 1200 0. 653 5 85 0.664...
Ngày tải lên: 20/06/2014, 20:20
The Economic Theory of Annuities_6 potx
... (8.21), the interpretation of this result is that the flow of returns from annuities held at age M can be matched, using the relevant risk-class survival function of the holder of the annuities, ... interest on assets, the competitive rate of return on annuities is equal to the rate of interest plus the hazard rate. The reason is obvious: The issuers of...
Ngày tải lên: 20/06/2014, 20:20
The Economic Theory of Annuities_7 pot
... the first period and c 1 is total consumption in the second period. The second term is the sum of the expected utilities of two surviving individuals, while the third is the expected utility of ... annually the assets of deceased participants to survivors in the same age cohort. August 20, 2007 Time: 05: 40pm chapter 05. tex Comparative Statics • 35 5 .5 Partial An...
Ngày tải lên: 20/06/2014, 20:20
Review of The Economic Theory of Annuities_1 potx
... respect to the tax August 3, 2007 Time: 04:49pm chapter 15. tex 132 • Chapter 15 bundles of annuities and long-term care insurance (at ages 65 and 75) and found that the cost of the hypothetical ... about the longevities of individuals. Consequently, annuities are offered at the same price to all potential buyers, leading to a pooling equilibrium. In contrast, the set...
Ngày tải lên: 21/06/2014, 00:20