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Working Papers

Aged care

Joelle H. Fong, Benedict SK. Koh, and Olivia S. Mitchell

This paper examines how inability to perform activities of daily living relates to the risk of nursing home admission over older adults' life courses

Happy elderly couple

Bei Lu and John Piggott

This paper proposes a Notional Defined Contribution (NDC) mechanism to ensure pension mobility for migrating workers, in both the accumulation and drawdown phases.

Male researcher on his laptop

Ermanno Pitacco

Many modern insurance products are designed as packages, whose items may be either included or not in the product actually purchased by the client.


Erik Hernaes, Simen Markussen, John Piggott and Ola Vestad

The relationship between retirement and mortality is studied with a unique administrative data set covering the full population of Norway

Aged care support

Joelle H. Fong, John Piggott, and Michael Sherris

This paper assesses the cost and risk faced by public sector, defined benefit plan providers arising from uncertain mortality, including longevity selection, mortality improvements, and unexpected systematic shocks.

Content elderly couple enjoying life

Bei Lu

This paper uses the China Health and Retirement Longitudinal Study (CHARLS) data to investigate the net impact on the old age household income inequality when the new rural pension plan is in place.

Young family at home

Meliyanni Johar and Shiko Maruyama

We estimate a sequential game to investigate externality and strategic interaction among adult siblings regarding their location choice relative to their elderly parents.

Young family walking along the beach

Loretti Dobrescu, Dimitris Christelis, Alberto Motta

Using life-history survey data from eleven European countries, we investigate whether childhood conditions, such as socioeconomic status, cognitive abilities and health problems influence portfolio choice and risk attitudes later in life.


Daniel Alai, Zinoviy Landsman and Michael Sherris

Systematic improvements in mortality results in dependence in the survival distributions of insured lives. This paper applies a multivariate gamma distribution to incorporate dependence.