IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v99y2008i1p177-180.html
   My bibliography  Save this article

Welfare effects of life annuities: Some clarifications

Author

Listed:
  • 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.

Suggested Citation

  • Fehr, Hans & Habermann, Christian, 2008. "Welfare effects of life annuities: Some clarifications," Economics Letters, Elsevier, vol. 99(1), pages 177-180, April.
  • Handle: RePEc:eee:ecolet:v:99:y:2008:i:1:p:177-180
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165-1765(07)00248-0
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Kotlikoff, Laurence J & Spivak, Avia, 1981. "The Family as an Incomplete Annuities Market," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 372-391, April.
    2. Kingston, Geoffrey & Piggott, John, 1999. "The Geometry of Life Annuities," Manchester School, University of Manchester, vol. 67(2), pages 187-191, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:dgr:rugsom:14015-eef is not listed on IDEAS
    2. Zhao, Kai, 2014. "Social security and the rise in health spending," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 21-37.
    3. repec:cup:jpenef:v:16:y:2017:i:04:p:554-583_00 is not listed on IDEAS
    4. Hans Fehr & Fabian Kindermann, 2010. "Pension Funding and Individual Accounts in Economies with Life-cyclers and Myopes," CESifo Economic Studies, CESifo, vol. 56(3), pages 404-443, September.
    5. repec:eee:hapoch:v1_713 is not listed on IDEAS
    6. Hans Fehr & Christian Habermann, 2010. "Private retirement savings and mandatory annuitization," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 17(6), pages 640-661, December.
    7. Hans Fehr & Christian Habermann, 2008. "Private Retirement Savings in Germany: The Structure of Tax Incentives and Annuitization," CESifo Working Paper Series 2238, CESifo Group Munich.
    8. Heijdra, Ben J. & Mierau, Jochen O. & Trimborn, Timo, 2017. "Stimulating annuity markets," Journal of Pension Economics and Finance, Cambridge University Press, vol. 16(04), pages 554-583, October.
    9. Laps, Jochen, 2015. "Fully Funded Social Security Pensions, Lifetime Risk and Income," Working Papers 0603, University of Heidelberg, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:99:y:2008:i:1:p:177-180. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.