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Working Papers

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.

Data graphs

Elena Capatina

This paper studies four channels through which health affects individuals: (1) productivity, (2) medical expenditures, (3) available time and (4) survival probabilities, and assesses their roles in determining labour supply, asset accumulation and welfare.

Elderly friends enjoying life

Dimitris Christelis and Loretti I. Dobrescu

Using micro data from eleven European countries, we investigate the impact of being socially active on cognition in older age.

Female researchers examining data

Elena Veprauskaite and Michael Sherris

This paper considers optimal reinsurance based on an assessment of the reinsurance arrangements for a large life insurer.

Financial independence

Maathumai Nirmalendran, Michael Sherris and Katja Hanewald

This paper provides a detailed quantitative assessment of the impact of solvency capital requirements on product pricing and shareholder value for a life insurer.

Financial prosperity

John Piggott and Rafal Chomik

Australia's retirement income provision system, comprising the 'three pillars' of a means-tested Age Pension, mandatory occupational superannuation and other, voluntary long term savings, is at the heart of understanding the fiscal implications of ageing.