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Accounting for non-annuitization

  • Svetlana Pashchenko

    (University of Virginia)

annuitization, especially for people in lower income quintiles, who are well insured by this provision. The minimum annuity purchase requirement involves big upfront investment and is binding for many, especially if housing wealth cannot be easily annuitized. Among the traditional explanations, preannuitized wealth has the largest quantitative contribution to the annuity puzzle.

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Paper provided by Society for Economic Dynamics in its series 2010 Meeting Papers with number 563.

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Date of creation: 2010
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Handle: RePEc:red:sed010:563
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Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

Web page: http://www.EconomicDynamics.org/
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  23. Lina Walker, 2004. "Elderly Households and Housing Wealth: Do They Use It or Lose It?," Working Papers wp070, University of Michigan, Michigan Retirement Research Center.
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  25. John Ameriks & Andrew Caplin & Steven Laufer & Stijn Van Nieuwerburgh, 2011. "The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Public Care Aversion from Bequest Motives," Journal of Finance, American Finance Association, vol. 66(2), pages 519-561, 04.
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