Arbeitspapier
Stimulating Annuity Markets
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 repercussions. Balancing the positive partial-equilibrium and negative general-equilibrium forces we show that there exists some intermediate level of annuitization such that long-run welfare is maximized. Studying the transition to the optimal degree of annuitization shows that currently middle-aged individuals stand to gain most from the stimulation of annuity markets.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 4827
- Classification
-
Wirtschaft
Computable General Equilibrium Models
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Social Security and Public Pensions
- Subject
-
individual welfare
annuity markets
computable general equilibrium
overlapping generations
- Event
-
Geistige Schöpfung
- (who)
-
Heijdra, Ben J.
Mierau, Jochen O.
Trimborn, Timo
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Heijdra, Ben J.
- Mierau, Jochen O.
- Trimborn, Timo
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2014
Other Objects (12)
Does Stimulating Physical Activity Affect School Performance?
Stimulating local public employment: Do general grants work?
Stimulating low-carbon vehicle technologies: Summary and coclusions
Stimulating non-bank financial institutions' participation in green investments
Stimulating graduates' research-oriented careers: Does academic research matter?
Stimulating Long-Term Growth and Welfare in the U.S.
Stimulating housing policy and housing tenure choice: Evidence from the G7 Countries
The live case: a method for stimulating individual, group, and organizational learning
Revenue-sharing subsidies as employment policy: Reducing the cost of stimulating East German employment
Stimulating investment and growth in the Philippines: The need for first-order market reforms
How regulation might fail to reduce energy consumption while still stimulating total factor productivity growth
Multisided media markets: Applying the theory of multisided markets to media markets
Does Stimulating Physical Activity Affect School Performance?
Stimulating local public employment: Do general grants work?
Stimulating low-carbon vehicle technologies: Summary and coclusions
Stimulating non-bank financial institutions' participation in green investments
Stimulating graduates' research-oriented careers: Does academic research matter?
Stimulating Long-Term Growth and Welfare in the U.S.
Stimulating housing policy and housing tenure choice: Evidence from the G7 Countries
The live case: a method for stimulating individual, group, and organizational learning
Revenue-sharing subsidies as employment policy: Reducing the cost of stimulating East German employment
Stimulating investment and growth in the Philippines: The need for first-order market reforms
How regulation might fail to reduce energy consumption while still stimulating total factor productivity growth
Multisided media markets: Applying the theory of multisided markets to media markets
Does Stimulating Physical Activity Affect School Performance?
Stimulating local public employment: Do general grants work?
Stimulating low-carbon vehicle technologies: Summary and coclusions
Stimulating non-bank financial institutions' participation in green investments
Stimulating graduates' research-oriented careers: Does academic research matter?
Stimulating Long-Term Growth and Welfare in the U.S.
Stimulating housing policy and housing tenure choice: Evidence from the G7 Countries
The live case: a method for stimulating individual, group, and organizational learning
Revenue-sharing subsidies as employment policy: Reducing the cost of stimulating East German employment
Stimulating investment and growth in the Philippines: The need for first-order market reforms
How regulation might fail to reduce energy consumption while still stimulating total factor productivity growth