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This paper analyzes the low demand for annuities, long-term care insurance, and reverse mortgages among retirees, using a lifecycle model estimated from a stated-preference survey of Canadian households. It looks into factors like low risk aversion, substitution between housing and consumption, information frictions, and behavioral biases that contribute to this demand issue.
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An NBER Working Paper is a research paper published by the National Bureau of Economic Research that presents preliminary findings and analysis, contributing to the dialogue within the academic and policy-making community.
Researchers and scholars affiliated with the NBER or those collaborating with NBER researchers are typically required to file NBER Working Papers.
To fill out an NBER Working Paper, authors should follow the specific formatting guidelines provided by the NBER, including submission of abstracts, keywords, and complete references.
The purpose of an NBER Working Paper is to disseminate research findings to facilitate discussion and provide a platform for feedback before formal publication.
An NBER Working Paper must report the title, authors, abstract, introduction, methodology, results, discussion, references, and any supplementary materials as required.
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