Suicide and Life Insurance
Suicide and Life Insurance
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自杀和人寿保险
DOI：
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发表时间：
2008
期刊：
影响因子：
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通讯作者：
Y. Sawada
中科院分区：
文献类型：
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作者：
Joe Chen;Y. Choi;Y. Sawada
在本文中，我们使用OECD从1980年到2002年的跨国数据，研究了人寿保险和自杀行为之间的关系。通过具有固定效应的半参数工具变量回归，我们发现对于大多数观察结果，自杀率与人寿保险密度(人均保费)之间存在正相关关系。由于人寿保险单即使在自杀豁免期后自杀的情况下也支付死亡抚恤金，逆向选择和道德风险的存在表明了一种激励效应，导致了这种积极的关系。我们分析的新奇之处在于，使用寿险保单中自杀豁免期限长度的跨国差异作为人寿保险密度的识别工具。我们的结果提供了令人信服的证据，表明经合组织国家的人寿保险市场存在逆向选择和道德风险。
In this paper, we investigate the nexus between life insurance and suicide behavior using OECD cross-country data from 1980 to 2002. Through semiparametric instrumental variable regressions with fixed effects, we find that for the majority of observations, there exists a positive relationship between suicide rate and life insurance density (premium per capita). Since life insurance policies pay death benefits even in suicide cases after the suicide exemption period, the presence of adverse selection and moral hazard suggests an incentive effect that leads to this positive relationship. The novelty of our analysis lies in the use of cross-country variations in the length of the suicide exemption period in life insurance policies as the identifying instrument for life insurance density. Our results provide compelling evidence suggesting the existence of adverse selection and moral hazards in life insurance markets in OECD countries.