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Working Papers

Elderly couple enjoying life

Bei Lu, John Piggott, and Bingwen Zheng

This paper discusses the potential expansion of the role of the Notional Defined Contribution paradigm in the ongoing reforms of retirement provision in China. China has remarkably high nominal retirement coverage of its population. At the same time, however, issues of sustainability, equity and governance are challenging and real.

Financial prosperity

Chung Tran and Sebastian Wender

We quantify marginal excess buden, defined as the change in deadweight loss for an addional dollar of tax revenue, for different taxes.

Content pensioners

Han Li, Katja Hanewald and Shang Wu

In this paper, we provide a province-by-province analysis of healthy life expectancy at birth for China. We develop a predictive multiple regression model utilizing information on life expectancy, health and socio-economic factors to estimate healthy life expectancy for Chinese provinces. 

Couple examining pension options

Jennifer Alonso-Garcia and Michael Sherris.

We analyze the impact of various popular product choices in the Netherlands and in Australia on the welfare of individuals allowing for different income levels.

Cepar Pensioners

Jennifer Alonso-García and Pierre Devolder

Notional Defined Contribution pension schemes are defined contribution plans which are pay-as-you-go financed. We study how the scheme should be designed to achieve liquidity and solvency with a limited set of assumptions in a continuous overlapping generations model that increases traceability of the results.

Pension finances

Adam W. Shao, Hua Chen and Michael Sherris

We consider the impact of housing and the availability of reverse mortgages and long-term care insurance on a retiree's optimal portfolio choice and consumption decisions.

Elderly couple

Katja Hanewald, Han Li and Adam W. Shao

In this paper, we develop a new flexible approach to modeling health transitions in a multi-state Markov model that allows for age effects, time trends and age-time interactions.

Mother and daughter

Bei Lu, Hong Mi, Yana Zhu and John Piggott

This paper will document the Qingdao Long-term Care Medical Insurance (LTCMI) programme in order to properly understand and analyse its recipient demographics and the determinants of cost differentials for clients presenting with different patterns of disability.

Elderly friends

Shang Wu, Hazel Bateman, Ralph Stevens, and Susan Thorp

We study the demand for income-indemnity long term care (LTC) insurance, a product that pays income in LTC states whether care services are used or not.