A Conceptual Framework for Retirement Products: Risk Sharing Arrangements Between Providers and Retirees

Voluntary annuity markets are, in most countries, smaller than what the theoretical and part of the empirical literature would suggest. There are both demand and supply constraints that hamper the development of annuity markets. In particular, trad...

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Bibliographic Details
Main Authors:	Impavido, Gregorio, Thorburn, Craig, Wadsworth, Mike
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
Subjects:	ACTUARIES ADVERSE SELECTION ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY PROVIDERS ASSETS ASYMMETRIC INFORMATION BANK DEPOSITS BASIC PENSION BONDS CAPITAL MARKETS CAPITAL REQUIREMENTS COMPETITIVENESS CONCEPTUAL FRAMEWORK CONSUMERS CPI DEFERRED ANNUITIES DISCOUNT RATE DISCOUNT RATES DISPOSABLE INCOME DISTRIBUTION OF WEALTH ECONOMIES OF SCALE EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL STUDIES EXPECTED PRESENT VALUE EXPECTED PRESENT VALUES EXPECTED UTILITY FINANCIAL ASSETS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL SECTOR FUTURE RESEARCH GDP GROWTH POTENTIAL HOUSING INCOMPLETE MARKETS INDEXED ANNUITY INDIFFERENCE CURVES INDIVIDUAL ACCOUNTS INFLATION INFLATION RISK INSURANCE INSURANCE MARKETS INSURANCE PRODUCTS INSURANCE RESERVES INSURERS INTEREST RATE INTEREST RATES INTERGENERATIONAL TRANSFERS INVESTMENT RISK LESS DEVELOPED COUNTRIES LIFE ANNUITIES LIFE CYCLE HYPOTHESIS LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE PREMIUMS LIQUIDITY LONGEVITY INSURANCE LONGEVITY RISK MANDATORY SAVINGS MARGINAL UTILITY MORTALITY TABLES NET WORTH PENSION LIABILITIES PENSION PLANS PENSION REFORM PENSION SYSTEM PENSION SYSTEMS PENSIONS POLICY MAKERS PORTFOLIO CHOICE PREMIUMS PRIVATE INFORMATION PRIVATE SAVINGS RATES REAL INTEREST RATE RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT BENEFITS RETIREMENT INCOME RISK AVERSE RISK AVERSION RISK SHARING SAVINGS SINGLE LIFE ANNUITY SOCIAL SAFETY NET SOCIAL SECURITY STOCKS STREAMS SUBSTITUTION EFFECT TAX TREATMENT UTILITY FUNCTION UTILITY FUNCTIONS VALUATION VARIABLE ANNUITIES VOLUNTARY ANNUITY MARKETS WEALTH RETIREMENT INVESTMENT STOCKS & SHARES RISK FACTORS POVERTY
Online Access:	http://documents.worldbank.org/curated/en/2004/02/3911875/conceptual-framework-retirement-products-risk-sharing-arrangements-between-providers-retirees http://hdl.handle.net/10986/14315

Internet

http://documents.worldbank.org/curated/en/2004/02/3911875/conceptual-framework-retirement-products-risk-sharing-arrangements-between-providers-retirees
http://hdl.handle.net/10986/14315

A Conceptual Framework for Retirement Products: Risk Sharing Arrangements Between Providers and Retirees

Internet

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