| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12444 |
| 来源ID | Working Paper 12444 |
| Financial Innovation for an Aging World | |
| Olivia S. Mitchell; John Piggott; Michael Sherris; Shaun Yow | |
| 发表日期 | 2006-08-17 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Over the last half-century, around the world, many nations have seen plummeting fertility rates and mounting life expectancies. These two factors are the engine behind unprecedented global aging. In this paper, we explore how the demographic transition may influence financial markets and, in turn, how financial market innovation might help resolve concerns flowing from global aging trends. We first provide context by reviewing the economics, finance, and insurance-related literature on how global aging patterns may influence capital markets. We then turn to insurance markets, and discuss a range of products and policies, including both retail and wholesale financial offerings for various forms of life annuities, long-term care benefits, reverse mortgages, securitization of longevity risk, inflation-protected assets, reinsurance, guarantees, derivative contracts on residential property price indices, mortality swaps and longevity derivative contracts. We also indicate how new public-private partnerships might be beneficial in enhancing the future environment for old-age risk management. |
| 主题 | Financial Economics ; Financial Institutions ; Labor Economics ; Demography and Aging ; Labor Supply and Demand ; History ; Financial History |
| URL | https://www.nber.org/papers/w12444 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570102 |
| 推荐引用方式 GB/T 7714 | Olivia S. Mitchell,John Piggott,Michael Sherris,et al. Financial Innovation for an Aging World. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12444.pdf（254KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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