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Book
The Economic Theory of Annuities
Author:
ISBN: 1400829429 Year: 2008 Publisher: Woodstock, Oxfordshire [England] : Princeton University Press,

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Abstract

Annuities are financial products that guarantee the holder a fixed return so long as the holder remains alive, thereby providing insurance against lifetime uncertainty. The terms of these contracts depend on the information available to insurance firms. Unlike age and gender, information about individual survival probabilities cannot be readily ascertained. This asymmetric information causes market inefficiencies, such as adverse selection. Groundbreaking in its scope, The Economic Theory of Annuities offers readers a theoretical analysis of the functioning of private annuity markets. Starting with a general analysis of survival functions, stochastic dominance, and characterization of changes in longevity, Eytan Sheshinski derives the demand for annuities using a model of individuals who jointly choose their lifetime consumption and retirement age. The relation between life insurance and annuities that have a bequest option is examined and "annuity options" are proposed as a response to the lack of secondary markets. This book also investigates the macroeconomic policy implications of annuities and changes in longevity on aggregate savings. Sheshinski utilizes statistical population theory to shed light on the debate of whether the surge in savings and growth in Asia and other countries can be attributed to higher longevity of the population and whether this surge is durable. This book shows how understanding annuities becomes essential as governments that grapple with insolvency of public social security systems place greater emphasis on individual savings accounts.


Book
MiFID : questions spéciales
Authors: --- --- --- ---
ISBN: 9782804439934 2804439933 Year: 2010 Publisher: Bruxelles Larcier

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Keywords

Financial law --- Commercial law. Economic law (general) --- Belgium --- Europe --- Capital market --- Investments --- Marché financier --- Investissements --- Law and legislation --- Droit --- E-books --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- 347.730 --- 334.154.2 --- 334.151.28 --- 333.604 --- U40 - Droit bancaire et financier : Généralités - Algemeen financieel en bankrecht --- BPB1101 --- Directive CE --- Loi de finances --- Marché financier --- marches financiers --- europees gemeenschapsrecht --- 347.73 <493> --- finansų rinka --- mercado financeiro --- treg financiar --- finansmarknad --- piață financiară --- финансиски пазар --- mercato finanziario --- Finanzmarkt --- rynek finansowy --- finansielt marked --- financijsko tržište --- finanšu tirgus --- πιστωτική αγορά --- pénzügyi piac --- finanční trh --- financial market --- rahoitusmarkkinat --- geldmarkt --- finančni trg --- suq finanzjarju --- finantsturg --- финансов пазар --- финансијско тржиште --- finančný trh --- mercado financiero --- kansainväliset rahoitusmarkkinat --- διεθνής πιστωτική αγορά --- piață financiară internațională --- penge- og kapitalmarked --- treg financiar ndërkombëtar --- pénzügyi tevékenység --- finantsmajanduslik tegevus --- medzinárodný finančný trh --- finanšu darbība --- activitate financiară --- aktivitet financiar --- internationaler Finanzmarkt --- rahvusvaheline finantsturg --- piață de valori mobiliare --- trh cenných papírů --- меѓународен финансиски пазар --- internationell finansmarknad --- financiële activiteit --- vertybinių popierių rinka --- finansiell verksamhet --- mercado de valores --- mezinárodní finanční trh --- finansiel aktivitet --- trh cennými papíry --- financial activity --- финансиска активност --- actividad financiera --- finansinė veikla --- arvopaperimarkkinat --- securities market --- marché financier international --- treg i letrave me vlerë --- internationale geldmarkt --- atividade financeira --- Finanztätigkeit --- väärtpaberiturg --- međunarodno financijsko tržište --- kreditmarked --- finansiell marknad --- mercato finanziario internazionale --- activité financière --- tarptautinė finansų rinka --- vērtspapīru tirgus --- trh s cennými papiermi --- starptautiskais finanšu tirgus --- χρηματοοικονομική δραστηριότητα --- mercado financeiro internacional --- nemzetközi pénzügyi piac --- attività finanziaria --- international financial market --- mercado financiero internacional --- rahoitustoiminta --- értékpapírpiac --- eelarveseadus --- budjettilaki --- закон о буџету --- zakon o javnih financah --- legea bugetului --- finančný akt --- ustawa budżetowa --- finance act --- finanslag --- finanšu akts --- δημοσιονομικός νόμος --- legge finanziaria --- закон за финансирање --- ley presupuestaria --- akt financiar --- zakon o proračunu --- költségvetési törvény --- begrotingswet --- finansų įstatymas --- lei das finanças --- finanslov --- att finanzjarju --- zákon o rozpočtu --- финансов закон --- Haushaltsgesetz --- Закон за Буџетот --- budžeta likums --- κατάθεση του προϋπολογισμού --- zákon o státním rozpočtu --- budjettilainsäädäntö --- ligj për buxhetin --- zákon o rozpočte --- biudžeto įstatymas --- budget law --- eelarveõigus --- Закон за извршување на Буџетот --- EG-richtlijn --- EB direktyva --- EF-direktiv --- direktiva ES --- směrnice Komise --- direktiva EZ-a --- EK direktīva --- Direttiva tal-KE --- dyrektywa Komisji (WE) --- Direktivë e KE-së --- diretiva CE --- direttiva CE --- EK-irányelv --- directivă Comunitatea Europeană --- smernica ES --- οδηγία ΕΚ --- директива ЕЗ --- EC Directive --- Директива на ЕО --- Директива (ЕК) --- Richtlinie EG --- treoir (CE) --- EG-direktiv --- Directiva CE --- EY:n direktiivi --- EÜ direktiiv --- Директива (Европска комисија) --- directiva CE --- Директива (Европска заедница) --- 347.73 <493> Financieel recht. Commerciele organisatie. Handelsinstellingen--België --- Financieel recht. Commerciele organisatie. Handelsinstellingen--België --- Financiële instellingen: algemeen --- Financieel recht in de Europese Gemeenschappen. Verzekeringen --- Kredietinstellingen in de Europese Gemeenschappen --- Reglementering van de financiële markten. Controle op de uitgifte van effecten --- financiele markten --- droit communautaire europeen --- Treoir CE --- margadh airgeadais --- gníomh airgeadais --- Banques

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