Redistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities.
Redistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities.
复制标题
保险市场监管的再分配：分析基于性别的退休年金禁令。
DOI：
10.1016/j.jfineco.2007.12.006
复制
发表时间：
2009
影响因子：
8.9
通讯作者：
Rothschild,Casey
中科院分区：
文献类型：
--
作者：
Finkelstein,Amy;Poterba,James;Rothschild,Casey
我们说明了如何平衡筛选模型可以用来评估保险市场监管的经济后果。我们校准和解决英国的强制年金市场的模型，并研究基于性别的定价限制的影响。我们发现，年金合同菜单的内生调整，以应对这些限制可以撤销一半的再分配从男性到女性，将发生与外生的社会保障类年金合同。我们的研究结果表明，内生的合同反应的重要性，并说明了理论保险市场均衡模型的定量政策分析的可行性。
We illustrate how equilibrium screening models can be used to evaluate the economic consequences of insurance market regulation. We calibrate and solve a model of the United Kingdom's compulsory annuity market and examine the impact of gender-based pricing restrictions. We find that the endogenous adjustment of annuity contract menus in response to such restrictions can undo up to half of the redistribution from men to women that would occur with exogenous Social Security-like annuity contracts. Our findings indicate the importance of endogenous contract responses and illustrate the feasibility of employing theoretical insurance market equilibrium models for quantitative policy analysis.