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Business and Economics > Insurance

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Cover IMF Working Papers
Intergenerational Transmission of Education in a Developing Country: Evidence from A Mass Education Program in Vietnam
Trung Hoang
and
Ha Nguyen
We study the long-run and multi-generational effects of a mass education program in Vietnam during the First Indochina War (1946-1954). Difference-in-difference estimations indicate that the children of mothers exposed to the education program had an average of 0.9 more years of education. We argue that the impact is via mother’s education. An additional year of maternal education increases children’s education by up to 0.65 years, a stronger effect than those found in the existing literature. Better household lifestyles and a stronger focus on education are possible transmission pathways.
Keywords:
mass education; human capital transmission; mother education; Vietnam; education program; ha Nguyen; household lifestyle; intergenerational transmission; Labor markets; Income; Women; Insurance; Global
Cover IMF Working Papers
Barriers to Household Risk Management: Evidence from India
Robert M. Townsend
,
Ms. Shawn Cole
,
Mr. Jeremy Tobacman
,
Mr. Xavier Gine
,
Mr. James Ian Vickery
, and
Petia Topalova
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to U.S. insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints and limited salience are significant non-price frictions that constrain demand. We suggest contract design improvements to mitigate these frictions.
Keywords:
WP; Gujarat video experiment; product endorsement; financial product; insurance demand; expected return; Gujarat video treatment; payout slope; product diffusion; Insurance; Household Finance; Trust; Liquidity Constraints; Economic Development; Andhra Pradesh sample; Insurance companies; Consumption; Liquidity; Africa
Cover Global Financial Stability Report, September 2005
Global Financial Stability Report, September 2005
Market Developments and Issues
International Monetary Fund. Monetary and Capital Markets Department

Abstract

This paper presents an assessment of the shift in market risks to the household sector, which results from changes in the behavior of financial institutions and from pension reform. It focuses on household saving and asset allocation behavior and analyzes how such behavior may be affected by changes to household risk profiles. It examines the products and services that the financial industry has developed, or may need to develop, to help households meet these new challenges. The paper also discusses possible public policy initiatives on the promotion of a broader range of payout instruments and structures.

Keywords:
GFSR; mortgage market; home equity; investment product; longevity risk; market assets; private industry; risk profile; Pensions; Mortgages; Pension spending; Insurance; Europe; Global