教師資料查詢 | 類別: 期刊論文 | 教師: 田峻吉 TIEN, JYUN-JI (瀏覽個人網頁)

標題:How Households Adjust their Consumption and Investment Plans under Longevity Risk: An Experimental Approach-based Study in Taiwan
學年102
學期1
出版(發表)日期2013/10/28
作品名稱How Households Adjust their Consumption and Investment Plans under Longevity Risk: An Experimental Approach-based Study in Taiwan
作品名稱(其他語言)
著者Tien, Joseph J; Miao, Jerry C Y
單位
出版者
著錄名稱、卷期、頁數The Geneva Papers on Risk and Insurance Issues and Practice 38(4), pp.803–823
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.
關鍵字longevity risk;consumption decisions;investment decision;ageing society
語言英文
ISSN1018-5895
期刊性質國外
收錄於SSCI;
產學合作
通訊作者Tien, Joseph J
審稿制度
國別英國
公開徵稿
出版型式,電子版,紙本
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