Un impulso al mercado de rentas vitalicias en España
[Promoting the annuities market in Spain]
This paper is aimed to answer a set of questions through an examination of the literature and empirical evidence on annuities. Every section of the paper try to address one specific question, naming: How important is the ageing problem in the world? How is social security being replaced or complemented by savings? What financial products provide financial safety for the elderly? Why the annuities market is so thin? Why the annuities market only develop when there is a mandate to annuitisize? How is Spanish annuity market organized? What regulatory issues are to be develop in order to expand the instrument? What reforms can be instrumented in Spain to expand the market?
|Date of creation:||Jul 2008|
|Date of revision:||Jul 2008|
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pablo Antolin, 2007.
"Longevity Risk and Private Pensions,"
Financial Market Trends,
OECD Publishing, vol. 2007(1), pages 107-128.
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- Joan Costa i Font & Joan Gil & Oscar Mascarilla Miró, . "Preferencias de la población ante la financiación de la dependéncia: La hipoteca inversa en España," Studies on the Spanish Economy 230, FEDEA.
- Rocha, Roberto & Morales, Marco & Thorburn, Craig, 2008.
"An empirical analysis of the annuity rate in Chile,"
Journal of Pension Economics and Finance,
Cambridge University Press, vol. 7(01), pages 95-119, March.
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"Optimizing the Retirement Portfolio: Asset Allocation, Annuitization, and Risk Aversion,"
NBER Working Papers
12392, National Bureau of Economic Research, Inc.
- Wolfram Horneff & Raimond Maurer & Olivia Mitchell & Ivica Dus, 2006. "Optimizing the Retirement Portfolio: Asset Allocation, Annuitization, and Risk Aversion," Working Papers wp124, University of Michigan, Michigan Retirement Research Center.
- Irena Dushi & Anthony Webb, 2004. "Annuitization: Keeping Your Options Open," Working Papers, Center for Retirement Research at Boston College wp2004-4, Center for Retirement Research, revised Mar 2004.
- Tim Callen & Warwick J. McKibbin & Nicoletta Batini, 2006. "The Global Impact of Demographic Change," IMF Working Papers 06/9, International Monetary Fund.
- E. Philip Davis, 2002. "Issues in the Regulation of Annuities Markets," CeRP Working Papers 26, Center for Research on Pensions and Welfare Policies, Turin (Italy).
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3926, The World Bank.
- Alain Jousten, 2007. "Public Pension Reform: A Primer," IMF Working Papers 07/28, International Monetary Fund.
- G. A. Mackenzie, 2002. "The Role of Private Sector Annuities Markets in an Individual Accounts Reform of a Public Pension Plan," IMF Working Papers 02/161, International Monetary Fund.
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"Annuities and Individual Welfare,"
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9714, National Bureau of Economic Research, Inc.
- Ivica Dus & Raimond Maurer & Olivia S. Mitchell, 2003.
"Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities versus Phased Withdrawal Plans,"
wp063, University of Michigan, Michigan Retirement Research Center.
- Dus, Ivica & Maurer, Raimond H. & Mitchell, Olivia S., 2004. "Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans," CFS Working Paper Series 2004/01, Center for Financial Studies (CFS).
- Estelle James & Xue Song, 2001. "Annuities Markets Around the World: Money’s Worth and Risk Intermediation," CeRP Working Papers 16, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Jeffrey R. Brown & James M. Poterba, 2004. "Household Demand for Variable Annuities," Working Papers, Center for Retirement Research at Boston College wp2004-8, Center for Retirement Research, revised Mar 2004.
- Indermit S. Gill & Truman G. Packard & Juan Yermo & Todd Pugatch, 2004. "Keeping the Promise of Old Age Income Security in Latin America," World Bank Other Operational Studies 10349, The World Bank.
- Olivia S. Mitchell & John Piggott & Michael Sherris & Shaun Yow, 2006.
"Financial Innovation for an Aging World,"
NBER Working Papers
12444, National Bureau of Economic Research, Inc.
- Fiona Stewart, 2007. "Policy Issues for Developing Annuities Markets," OECD Working Papers on Insurance and Private Pensions 2, OECD Publishing.
- Allison Schrager & G. A. Mackenzie, 2004. "Can the Private Annuity Market Provide Secure Retirement Income?," IMF Working Papers 04/230, International Monetary Fund.
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