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Welfare effects of life annuities: Some clarifications

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  • Fehr, Hans
  • Habermann, Christian

Abstract

The present paper clarifies the intergenerational welfare effects of life annuities. While present young cohorts experience significant welfare gains, future generations are hurt by lower bequest. For sufficiently high interest rates long-run welfare will decrease although aggregate efficiency rises.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 99 (2008)
Issue (Month): 1 (April)
Pages: 177-180

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Handle: RePEc:eee:ecolet:v:99:y:2008:i:1:p:177-180

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Web page: http://www.elsevier.com/locate/ecolet

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  1. Laurence J. Kotlikoff & Avia Spivak, 1979. "The Family as an Incomplete Annuities Market," NBER Working Papers 0362, National Bureau of Economic Research, Inc.
  2. Kingston, Geoffrey & Piggott, John, 1999. "The Geometry of Life Annuities," Manchester School, University of Manchester, vol. 67(2), pages 187-91, March.
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Cited by:
  1. Mierau, Jochen O. & Heijdra, Ben J. & Trimborn, Timo, 2014. "Stimulating Annuity Markets," Research Report 14015-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  2. Hans Fehr & Christian Habermann, 2008. "Private Retirement Savings in Germany: The Structure of Tax Incentives and Annuitization," SOEPpapers on Multidisciplinary Panel Data Research 133, DIW Berlin, The German Socio-Economic Panel (SOEP).
  3. Kai Zhao, 2014. "Social Security and the Rise in Health Spending," Working papers 2014-04, University of Connecticut, Department of Economics.
  4. Hans Fehr & Christian Habermann, 2010. "Private retirement savings and mandatory annuitization," International Tax and Public Finance, Springer, vol. 17(6), pages 640-661, December.
  5. Hans Fehr & Fabian Kindermann, 2009. "Pension Funding and Individual Accounts in Economies with Life-cyclers and Myopes," CESifo Working Paper Series 2724, CESifo Group Munich.

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