How Households Adjust their Consumption and Investment Plans under Longevity Risk: An Experimental Approach-based Study in Taiwan

淡江大學機構典藏 > 商管學院 > 風險管理與保險學系 > 期刊論文 > Item 987654321/104230

請使用永久網址來引用或連結此文件: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/104230

題名:	How Households Adjust their Consumption and Investment Plans under Longevity Risk: An Experimental Approach-based Study in Taiwan
作者:	Tien, Joseph J;Miao, Jerry C Y
關鍵詞:	longevity risk;consumption decisions;investment decision;ageing society
日期:	2013-10-28
上傳時間:	2016-01-06 10:52:13 (UTC+8)
出版者:	Palgrave Macmillan Ltd.
摘要:	Longevity risk may be defined as the risk of outliving one’s accumulated wealth. Although many theoretical studies have suggested that individuals will increase their precautionary saving in order to mitigate longevity risk, only a few of such studies have used empirical data to test people’s decision-making behaviour in response to longevity risk. The main purpose of this paper is to investigate how households adjust their consumption and investment plans in response to longevity risk. We find that households reduce their consumption over their entire lifespan and increase the proportion of their risky assets before retirement when they face longevity risk. Furthermore, we also discover that households with females, more children, higher health expenditure and greater risk aversion change their risky assets to a lesser extent in their whole life period in the face of longevity risk, compared with other households.
關聯:	The Geneva Papers on Risk and Insurance Issues and Practice 38(4), pp.803-823
DOI:	10.1057/gpp.2013.22
顯示於類別:	[風險管理與保險學系] 期刊論文

文件中的檔案:

檔案	描述	大小	格式	瀏覽次數
How Households Adjust their Consumption and Investment Plans under Longevity Risk An Experimental Approach-based Study in Taiwan.pdf		475Kb	Adobe PDF	1	檢視/開啟
index.html		0Kb	HTML	181	檢視/開啟

在機構典藏中所有的資料項目都受到原著作權保護.

TAIR相關文章