The Demand for Life Insurance in the United States: Long-Run Versus Short-Run
Previous research on life insurance purchases has focused on the long-run demand function. In this paper, we use a speed of adjustment model to determine how quickly households adjust their holdings of life insurance to the optimal level. Our results support the hypothesis that institutional constraints and costs of adjustment keep individuals from instantaneously adjusting their demand for life insurance to optimal levels.
Volume (Year): 17 (1994)
Issue (Month): 2 ()
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:wri:journl:v:17:y:1994:i:2:p:73-84. 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: (James Barrese)
If references are entirely missing, you can add them using this form.