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Auf Leben und Tod - Steigende Lebenserwartung und Sozialversicherung

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  • Friedrich Breyer

Abstract

Rapidly increasing life expectancy is seen by economists as a serious impediment to the financing of social security systems, no matter whether they are funded or not. However, what is less obvious is that these systems themselves may contribute to the increase in life expectancy by distorting people's incentives to invest in the length of their lives. This paper discusses theories of this moral hazard effect and offers some preliminary evidence on the empirical validity of this theory. I also present an option of reforming traditional social security systems which is designed to reduce this moral hazard effect. Copyright Verein für Socialpolitik und Blackwell Publishers Ltd, 2004

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Article provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.

Volume (Year): 5 (2004)
Issue (Month): 2 (05)
Pages: 227-241

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Handle: RePEc:bla:perwir:v:5:y:2004:i:2:p:227-241

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  1. Jeffrey R. Brown, 2003. "Redistribution and Insurance: Mandatory Annuitization With Mortality Heterogeneity," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(1), pages 17-41.
  2. Gerdtham, Ulf-G. & Ruhm, Christopher J., 2002. "Deaths Rise in Good Economic Times: Evidence From the OECD," IZA Discussion Papers 654, Institute for the Study of Labor (IZA).
  3. Amy Finkelstein & James Poterba, 2002. "Selection Effects in the United Kingdom Individual Annuities Market," Economic Journal, Royal Economic Society, vol. 112(476), pages 28-50, January.
  4. Eckstein, Zvi & Eichenbaum, Martin & Peled, Dan, 1985. "Uncertain lifetimes and the welfare enhancing properties of annuity markets and social security," Journal of Public Economics, Elsevier, vol. 26(3), pages 303-326, April.
  5. Browning, Edgar K, 1975. "Why the Social Insurance Budget Is Too Large in a Democracy," Economic Inquiry, Western Economic Association International, vol. 13(3), pages 373-88, September.
  6. Davies, James B. & Kuhn, Peter, 1992. "Social security, longevity, and moral hazard," Journal of Public Economics, Elsevier, vol. 49(1), pages 91-106, October.
  7. Tomas J. Philipson & Gary S. Becker, 1998. "Old-Age Longevity and Mortality-Contingent Claims," Journal of Political Economy, University of Chicago Press, vol. 106(3), pages 551-573, June.
  8. Friedrich Breyer & Volker Ulrich, 2000. "Gesundheitsausgaben, Alter und medizinischer Fortschritt: Eine Regressionsanalyse," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 220(1), pages 1-17.
  9. Edmund Cannon & Ian Tonks, 2002. "Annuity Prices, Money's Worth and Replacement Ratios: UK experience 1972 - 2002," The Centre for Market and Public Organisation 02/051, Department of Economics, University of Bristol, UK.
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Cited by:
  1. Peter Zweifel, 2006. "Auftrag und Grenzen der Sozialen Krankenversicherung," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 7(s1), pages 5-26, 05.

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