Ermanno Pitacco
These Lecture Notes aim at introducing technical and financial aspects of the life annuity products, with a special emphasis on the actuarial valuation of life annuity benefits.
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Working Papers
2017Sep
Elena Capatina, Michael Keane, and Shiko Maruyama
In the US healthcare system, patients of different socio-economic status (SES) often receive disparate treatment for similar conditions. Prior work documents this phenomenon for particular treatments/conditions, but we take a system-wide view and examine socio-economic disparities in spending for all medical conditions at the 3-digit ICD-9 level.
2017Sep
Bei Lu, John Piggott, and Bingwen Zheng
This paper discusses the potential expansion of the role of the Notional Defined Contribution paradigm in the ongoing reforms of retirement provision in China. China has remarkably high nominal retirement coverage of its population. At the same time, however, issues of sustainability, equity and governance are challenging and real.
2017Sep
Chung Tran and Sebastian Wender
We quantify marginal excess buden, defined as the change in deadweight loss for an addional dollar of tax revenue, for different taxes.
2017Aug
Han Li, Katja Hanewald and Shang Wu
In this paper, we provide a province-by-province analysis of healthy life expectancy at birth for China. We develop a predictive multiple regression model utilizing information on life expectancy, health and socio-economic factors to estimate healthy life expectancy for Chinese provinces.
2017Aug
Jennifer Alonso-Garcia and Michael Sherris.
We analyze the impact of various popular product choices in the Netherlands and in Australia on the welfare of individuals allowing for different income levels.
2017Jul
Jennifer Alonso-García and Pierre Devolder
Notional Defined Contribution pension schemes are defined contribution plans which are pay-as-you-go financed. We study how the scheme should be designed to achieve liquidity and solvency with a limited set of assumptions in a continuous overlapping generations model that increases traceability of the results.
2017Jun
Adam W. Shao, Hua Chen and Michael Sherris
We consider the impact of housing and the availability of reverse mortgages and long-term care insurance on a retiree's optimal portfolio choice and consumption decisions.
2017May
Katja Hanewald, Han Li and Adam W. Shao
In this paper, we develop a new flexible approach to modeling health transitions in a multi-state Markov model that allows for age effects, time trends and age-time interactions.