排序方式: 共有27条查询结果,搜索用时 15 毫秒
1.
This paper presents a comprehensive assessment of premiums, reserves and solvency capital requirements (SCRs) for long-term care (LTC) insurance policies using Activities of Daily Living and US data. We compare stand-alone policies, whole life insurance policies with LTC benefit riders (LTC insurance combined with whole life insurance), life care annuities (LTC insurance combined with annuities) and shared LTC insurance in terms of net premium cost and SCRs. Net premiums and best-estimate reserves for base LTC insurance policies are determined using Thiele’s differential equation. Product features such as the elimination period and the maximum benefit period are compared using a simulation-based model. We show how a maximum benefit period can reduce costs and risks for LTC insurance products. SCRs for longevity risk and disability risk are based on the Solvency II standard formula. We quantify the extent to which whole life insurance policies with LTC benefit riders and life care annuities provide lower SCRs than stand-alone LTC insurance policies. 相似文献
2.
Joelle H. Y. Fong Olivia S. Mitchell Benedict S. K. Koh 《The Journal of risk and insurance》2011,78(4):961-982
Although annuities are a theoretically appealing way to manage longevity risk, in the real world relatively few consumers purchase them at retirement. To counteract the possibility of retirees outliving their assets, Singapore's Central Provident Fund, a national defined contribution pension scheme, has recently mandated annuitization of workers’ retirement assets. More significantly, the government has entered the insurance market as a public‐sector provider for such annuities. This article evaluates the money's worth of life annuities and discusses the impact of the government mandate and its role as an annuity provider on the insurance market. 相似文献
3.
Joelle Miffre 《Economic Notes》2002,31(1):125-142
This paper tests whether the variation in expected futures returns reflects rational pricing in an efficient market or weak-form market inefficiency. The issue is investigated by looking at the abnormal performance of a trading rule based on available information. Once one allows for time-varying risk and time-varying risk premia, the investment strategy can be used consistently to generate abnormal returns in seven out of 26 markets. With relatively few exceptions therefore, the predictable movements in futures returns reflect weak-form market efficiency. The paper also shows that wrongly assuming constant expected returns may lead to incorrect inferences regarding market efficiency.
(J.E.L.: G14, G12). 相似文献
(J.E.L.: G14, G12). 相似文献
4.
This article provides a review of what we know, what we do not know, and what we need to know about the relationship between industrial clusters and corporate social responsibility (CSR) in developing countries. In addition to the drivers of and barriers to the adoption of CSR initiatives, this study highlights key lessons learned from empirical studies of CSR initiatives that aimed to improve environmental management and work conditions and reduce poverty in local industrial districts. Academic work in this area remains embryonic, lacking in empirical evidence about the effects of CSR interventions on the profitability on local enterprises, workers, and the environment. Nor do theoretical frameworks offer clear explanations of the institutionalization and effects of CSR in local industrial districts in the developing world. Other key limitations in this research stream include an excessive focus on export-oriented industrial clusters, the risk that CSR becomes a form of economic and cultural imperialism, and the potential for joint-action CSR initiatives in clusters of small and medium-sized enterprises to offer a new form of greenwashing. From this review, the authors develop a theoretical model to explain why CSR has not become institutionalized in many developing country clusters, which in turn suggests that the vast majority of industrial clusters in developing countries are likely to engage in socially irresponsible behavior. 相似文献
5.
Joelle Latina Roberta Piermartini Michele Ruta 《International Economics and Economic Policy》2011,8(2):177-196
When looking at the conditions of trade in natural resources the world appears upside down: tariff protection in natural resources
sectors is generally lower than for overall merchandise trade, while export restrictions are twice as likely as in other sectors.
On the other hand, tariff escalation is significant in natural resources sectors, where materials in their raw state face,
on average, lower duties than in their processed form. In this paper, we discuss how export taxes and tariff escalation may
be the result of an uncooperative trade policy. Specifically, tariff escalation and export taxes can be “beggar-thy-neighbor”
policies because governments may be tempted to use them to alter the relative price of exports to their advantage (terms-of-trade
effect) or to expand the domestic processing industry at the expenses of foreign production (production relocation effect).
In equilibrium, these policies offset each other in a Prisoners’ Dilemma situation, where trade is inefficiently low. 相似文献
6.
Price adjustment strategy is a central problem to businesses operating under conditions of high inflation. Three different approaches to the problem are presented and some of their implications tested empirically by means of a unique data set. The empirical observations do not support any of the three traditional approaches. 相似文献
7.
Yehoshua Liebermann 《Journal of Business Ethics》1985,4(5):385-393
Competition is the most basic force traditionally regarded by Western economists as governing both society's resources allocation
and income distribution. No wonder, then, that many legal systems have been concerned with various aspects of competitive
activity, and formulated laws and rulings to keep market behavior within limits of ethical conduct. Jewish law has not been
an exception.
The focus of this paper is on competition in consumption. Its underlying assumption is that lawmakers' decisions approximate
optimality in resource allocation. The validity of the ‘optimality’ assumption is assessed in light of the special moral features
unique to Jewish law.
Yehoshua Lieberman is Senior Lecturer in Business and Economics at the Department of Economics and Business Administration
of Bar-Ilan University, Israel. Previously he was Visiting Associate Professor at the Department of Marketing of the University
of Washington at Seattle. His most important publications areElements of Talmudic Monetary Thought andThe Coase Theorem in Jewish Law. 相似文献
8.
New evidence is presented that lends support to Steiner's advertising life-cycle theory. 相似文献
9.
This paper presents possible effects of economic and marketing variables on the diffusion process of new products. The variables examined are price, advertising, and consumer's income. It is shown that under certain conditions the diffusion process depends on the income elasticity of the new product introduced. 相似文献
10.
Yehoshua Liebermann 《Managerial and Decision Economics》1985,6(1):33-40
One of the most important problems in advertising strategy is the allocation of overall advertising budgets among alternative media. This paper shows how economic analysis can be applied to offer an improved solution to this problem. In particular, the present study claims that income-elasticity is one of the variables that should be considered when making media-mix decisions. 相似文献