Pension schemes versus real estate

Valeria D’Amato1, Emilia Di Lorenzo2, Steven Haberman3, Marilena Sibillo1, Roberto Tizzano2
1Department of Economics and Statistics, University of Salerno, Fisciano, Italy
2Department of Economic and Statistical Sciences, University of Naples “Federico II”, Naples, Italy
3Cass Business School, City, University of London, London, UK

Tóm tắt

Từ khóa


Tài liệu tham khảo

Aalbers, B. M. (2012). Subprime cities and the twin crises. In M. B. Aalbers (Ed.), Subprime cities: The political economy of mortgage markets. Chichester: Wiley. https://doi.org/10.1002/9781444347456.ch.

Agenzia delle Entrate. (2017). Gli immobili in Italia, ricchezza, reddito e fiscalità immobiliare, Ministero delle Finanze e Agenzia delle Entrate. http://www1.finanze.gov.it/finanze3/immobili/contenuti/immobili_2017.pdf.

Alai, D. H., Chen, H., Cho, D., Hanewald, K., & Sherris, M. (2014). Developing equity release markets: Risk analysis for reverse mortgage and home reversion. North American Actuarial Journal, 18(1), 217–241.

Chen, H., Cox, S. H., & Wang, S. S. (2010). Is the home equity conversion program in the United States sustainable? Evidence from pricing mortgage insurance premiums and non recourse provisions using the conditional Escher transform. Insurance: Mathematics & Economics, 46, 371–384.

Chinloy, P., Cho, M., & Megbolugbe, I. F. (1997). Appraisals, transaction incentives, and smoothing. Journal of Real Estate Finance and Economics, 14(1), 89–111.

de la Fuente Merencio, I., Navarro, E., & Serna, G. (2018). Estimating the no-negative-equity guarantee in reverse mortgages: International sensitivity analysis. In: New methods in fixed income modeling. Berlin: Springer. https://doi.org/10.1007/978-3-319-95285-7_13.

Fornero, E., Rossi, M., & Virzì Bramati, M. C. (2016). Explaining why, right or wrong, (Italian) households do not like reverse mortage. Journal of Pension Economics & Finance, 15(2), 180–202.

Guerin J. (2016). Feature: Nobel prize-winning economist Robert Merton. The Reverse Review June 2016. https://www.reversereview.com/magazine/features/feature-nobel-prize-winning-economist-robert-merton.html.

Hanewald, K., Post, T., & Sherris, M. (2016). Portfolio choice in retirement: What is the optimal home equity release product? Journal of Risk and Insurance, 83(2), 421–446.

Institute and Faculty of Actuaries. (2014). Lifetime mortgage. A good and appropriate investment for life companies with annuity liabilities? May 2014. https://www.actuaries.org.uk/system/…/lifetime-mortgage.pdf.

Lennartz, C., Arundel, R., & Ronald, R. (2016). Younger adults and homeownership in Europe through the global financial crisis. Population, Space and Place, 22, 823–835. https://doi.org/10.1002/psp.1961.

Li, J. S. H., Hardy, M. R., & Tan, K. S. (2010). On pricing and hedging the no-negative equity guarantee in equity release mechanisms. Journal of Risk and Insurance, 77(2), 499–522.

Merton, R. C., & Lai, R. N. (2016). On an efficient design of the reverse mortgage: Structure, marketing and funding. November 2016. https://www.aeaweb.org/conference/2017/…/paper/3hsNdR4f.

Mudrazija, S., & Butrica, A. B. (2017). Homeownership, social insurance, and old-age security in the United States and Europe. Center for Retirement Research at Boston College. http://crr.bc.edu.

Nakajima, M., & Telywcava, I. (2017). Reverse mortgage loans: A quantitative analysis. The Journal of Finance, 72(2), 911–950.

Paasch, J. M. (2005). Legal cadastral domain model. An object-orientated approach. Nordic Journal of Surveying and Real Estate Research, 2(1), 117–136.

Paasch, J. M. (2008). Standardization within the legal domain: A terminological approach. In: T. Doganoglu, M. J. Holler, & J. Tiedeman (Eds.) Euras yearbook of standardization (Vol. 6, pp. 105–130). Online publication. ISBN 978-3-89265-102-4. Internet document. https://uni.uni-hamburg.de/onTEAM/grafik/1164287680/Paasch.pdf.

Paasch, J. M. (2011). Classification of real property rights: A comparative study of real property rights in Germany, Ireland, the Netherlands and Sweden. Stockholm: Real Estate Planning and Land Law, Department of Real Estate and Construction Management, KTH Royal Institute of Technology.

Plat, R. (2009). On stochastic mortality modeling. Insurance: Mathematics and Economics, 45(3), 393–404.

Renshaw, A., & Haberman, S. (2006). A cohort-based extension to the Lee–Carter model for mortality reduction factors. Insurance: Mathematics and Economics, 38(3), 556–570.

Scanlon, K., Lunde, J., & Whitehead, C. (2008). Mortgage product innovation in advanced economies: More choice, more risk. International Journal of Housing Policy, 8(2), 1–30.

Shao, A. W., Chen, H., & Sherris, M. (2018). To borrow or insure? Long term care costs and the impact of housing. SSRN. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2707350.

Shao, A. W., Hanewal, K., & Sherris, M. (2015). Reverse mortgage pricing and risk analysis allowing for idiosyncratic home price risk and longevity risk. Insurance: Mathematics and Economics, 63, 76–90.

Valente, A., & Gilardi, C. (2013). Soluzioni finanziarie per la terza età. Bari: Cacucci Editore.

Wang, L., Valdez, E. A., & Piggot, J. (2008). Securitization of longevity risk in reverse mortgage. North American Actuarial Journal, 12, 345–371.