The Compulsory Public Pension and the Demand for Life Insurance: The Case of Sweden, 1884–1914
The Compulsory Public Pension and the Demand for Life Insurance: The Case of Sweden, 1884–1914
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强制性公共养老金和人寿保险的需求：以瑞典为例，1884-1914 年
DOI：
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发表时间：
2015
期刊：
影响因子：
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通讯作者：
Liselotte Eriksson
中科院分区：
文献类型：
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作者：
L. Andersson;Liselotte Eriksson
我们采用生活成本调查、商业档案和企业数据来考察强制性养老金对1884年至1914年瑞典人寿保险需求的影响，这一时期涵盖了第一次公共强制性养老金改革的实施和行业人寿保险的起飞。根据当代文献对挤出效应的预测，我们发现强制性养老金减少了对人寿保险的需求。我们对保单失效率的面板数据分析显示，养老金支付存在显著的挤出效应。我们得出结论，一般强制性养老金的引入对家庭持有保险政策具有挤出效应。
type="main"> We employ cost-of-living surveys, business archives, and firm data to examine the impact of the compulsory pension on the demand for life insurance in Sweden from 1884 to 1914—a period that covers the implementation of the first public compulsory old-age pension reform and the take-off of industry life insurance. As predicted on the basis of the contemporary literature on crowding-out effects, we find that the compulsory pension reduced the demand for life insurance. Our panel-data analysis of lapse rates on insurance policies shows a significant crowding-out effect of pension payments. We conclude that the introduction of the general compulsory pension had a crowding-out effect on households’ holdings of insurance policies.