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Immigration and the demand for life insurance: Evidence from Canada, 1911

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Author Info

  • Alan de BROMHEAD

    ()
    (Mansfield College, Oxford University)

  • Karol Jan BOROWIECKI

    ()
    (Department of Economics, Trinity College Dublin)

Abstract

This paper analyses the determinants of the demand for life insurance using sample data from the 1911 Census of Canada. We find that immigrants’ demand for life insurance was on average around seven percent lower than that of native born Canadians and varied depending on the time that elapsed since immigration. The results imply substantially lower risk aversion of immigrants and possibly indicate the importance of personal networks for informal risk sharing that could evolve over time. We also find that the value of life insurance held by immigrants increases with time elapsing since immigration and converge towards the value of individuals born in Canada.

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File URL: http://www.tcd.ie/Economics/TEP/2011/TEP1511.pdf
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Bibliographic Info

Paper provided by Trinity College Dublin, Department of Economics in its series Trinity Economics Papers with number tep1511.

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Length: 29 pages
Date of creation: Oct 2011
Date of revision:
Handle: RePEc:tcd:tcduee:tep1511

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Related research

Keywords: Insurance; welfare; migration; Canada;

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References

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  1. Borowiecki, Karol Jan, 2011. "Geographic Clustering and Productivity: An Instrumental Variable Approach for Classical Composers," Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48738, Verein für Socialpolitik / German Economic Association.
  2. Di Matteo, Livio & Herbert Emery, J. C., 2002. "Wealth and the demand for life insurance: evidence from Ontario, 1892," Explorations in Economic History, Elsevier, vol. 39(4), pages 446-469, October.
  3. David A. Jaeger & Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Holger Bonin, 2010. "Direct Evidence on Risk Attitudes and Migration," The Review of Economics and Statistics, MIT Press, vol. 92(3), pages 684-689, August.
  4. Catalina Amuedo-Dorantes & Susan Pozo, 2002. "Precautionary Saving by Young Immigrants and Young Natives," Southern Economic Journal, Southern Economic Association, vol. 69(1), pages 48-71, July.
  5. Campbell, Ritchie A, 1980. " The Demand for Life Insurance: An Application of the Economics of Uncertainty," Journal of Finance, American Finance Association, vol. 35(5), pages 1155-72, December.
  6. Carter, Susan B. & Sutch, Richard, 1996. "Myth of the Industrial Scrap Heap: A Revisionist View of Turn-of-the-Century American Retirement," The Journal of Economic History, Cambridge University Press, vol. 56(01), pages 5-38, March.
  7. Lewis, Frank D, 1989. "Dependents and the Demand for Life Insurance," American Economic Review, American Economic Association, vol. 79(3), pages 452-67, June.
  8. Matteo, Livio Di, 1997. "The Determinants of the Wealth and Asset Holding in Nineteenth-Century Canada: Evidence from Microdata," The Journal of Economic History, Cambridge University Press, vol. 57(04), pages 907-934, December.
  9. Alan G. Green & Mary MacKinnon & Chris Minns, 2002. "Dominion or Republic? Migrants to North America from the United Kingdom, 1870–1910," Economic History Review, Economic History Society, vol. 55(4), pages 666-696, November.
  10. MR Rosenzweig, 2001. "Savings behaviour in low-income countries," Oxford Review of Economic Policy, Oxford University Press, vol. 17(1), pages 40-54, Spring.
  11. David Stead, 2004. "Risk and risk management in English agriculture, c. 1750-1850," Economic History Review, Economic History Society, vol. 57(2), pages 334-361, 05.
  12. Kantor, Shawn Everett & Fishback, Price V, 1996. "Precautionary Saving, Insurance, and the Origins of Workers' Compensation," Journal of Political Economy, University of Chicago Press, vol. 104(2), pages 419-42, April.
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  1. History of immigration to Canada in Wikipedia (English)

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