3.29. Annuity choices and longevity bonds: a developing country application

Autores: Ruiz, J.

Palabras Clave: Annuities, Pensions, Welfare

We use a variable that comes from a dynamic programming model developed by Mitchell et al. (1999) and Brown (2001), called Annuity Equivalent Wealth, in order to capture the benefits of having access to the annuity market. We introduce longevity bonds as assets for insurance companies, and we expect an increase in the annuitization probability.