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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.
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Researchers and scholars affiliated with the NBER or those collaborating with NBER researchers are typically required to file NBER Working Papers.
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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.
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The purpose of an NBER Working Paper is to disseminate research findings to facilitate discussion and provide a platform for feedback before formal publication.
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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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