Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/26131
Authors: 
Tang, Kam Ki
Zhang, Jie
Year of Publication: 
2007
Series/Report no.: 
CESifo working paper 2086
Abstract: 
In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different patterns of change in annuitization, depending on the initial survival rate. When the initial survival rate is low (high), there is full (partial) annuitization. There is thus an inverse relationship between longevity and annuitization.
JEL: 
E2
J1
L1
Document Type: 
Working Paper

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