Self-Insurance Against Natural Disasters :: The Use of Pension Funds in Pacific Island Countries.

Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawls in the wake of Cyclone Winston in 2016. Motivated by this policy action, we provide a normative analysis of the use of early pension withdraw...

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Bibliographische Detailangaben
1. Verfasser: Guo, Si
Weitere Verfasser: Narita, Futoshi
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2018.
Schriftenreihe:IMF Working Papers; Working Paper ; no. 18/155.
Schlagworte:
Online-Zugang:DE-862
DE-863
Zusammenfassung:Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawls in the wake of Cyclone Winston in 2016. Motivated by this policy action, we provide a normative analysis of the use of early pension withdrawals after disasters, by setting up a life-cycle saving model with myopic households facing large natural disaster shocks. The model demonstrates the key trade-off between building up sufficient retirement savings and ensuring the access to savings against natural disaster shocks, and sheds light on welfare implications of early pension withdrawals.
Beschreibung:1 online resource (23 pages)
ISBN:148436791X
9781484367919
1484366832
9781484366837

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