| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20745 |
| 来源ID | Working Paper 20745 |
| Incidental Bequests and the Choice to Self-Insure Late-Life Risks | |
| Lee M. Lockwood | |
| 发表日期 | 2014-12-15 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Despite facing significant uncertainty about their lifespans and health care costs, most retirees do not buy annuities or long-term care insurance. In this paper, I find that retirees' saving and insurance choices are highly inconsistent with standard life cycle models in which people care only about their own consumption but match well models in which bequests are luxury goods. Bequest motives tend to reduce the value of insurance by reducing the opportunity cost of precautionary saving. The results suggest that bequest motives significantly increase saving and significantly decrease purchases of long-term care insurance and annuities. |
| 主题 | Microeconomics ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w20745 |
| 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/578420 |
| 推荐引用方式 GB/T 7714 | Lee M. Lockwood. Incidental Bequests and the Choice to Self-Insure Late-Life Risks. 2014. |
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