How deep is the annuity market participation puzzle?
Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market demand. We find that annuity market participation...
DP 593
Rare events and annuity market participation
We investigate whether a rare event (like the default of the annuity provider) can explain the annuity market participation puzzle. High risk aversion...
DP 553
Are annuities value for money?: who can afford them?
This paper solves an empirically parameterized model of households’ optimal de- mand for nominal and inflation indexed annuities. The model...
DP 473