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.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4827
- Klassifikation
-
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
- Thema
-
individual welfare
annuity markets
computable general equilibrium
overlapping generations
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Heijdra, Ben J.
Mierau, Jochen O.
Trimborn, Timo
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Heijdra, Ben J.
- Mierau, Jochen O.
- Trimborn, Timo
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2014
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