[工程科技]TheMismatchbetweenLifeInsuranceHoldingsandFinancialVulnerabilitiesEvidencefromth.pdfVIP

NBER WORKING PAPER SERIES THE MISMATCH BETWEEN LIFE INSURANCE HOLDINGS AND FINANCIAL VULNERABILITIES: EVIDENCE FROM THE SURVEY OF CONSUMER FINANCES B. Douglas Bernheim Katherine Grace Carman Jagadeesh Gokhale Laurence J. Kotlikoff Working Paper 8544 /papers/w8544 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 October 2001 We are grateful to the National Institute of Aging provided financial support. Economic Security Planner (ESPlanner) is used in this study with the permission of Economic Security Planning, Inc. The views expressed herein are those of the authors and not necessarily those of the National Bureau of Economic Research. © 2001 by B. Douglas Bernheim, Katherine Grace Carman, Jagadeesh Gokhale and Laurence J. Kotlikoff. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities: Evidence from the Survey of Consumer Finances B. Douglas Bernheim, Katherine Grace Carman, Jagadeesh Gokhale and Laurence J. Kotlikoff NBER Working Paper No. 8544 October 2001 JEL No. D10, G22 ABSTRACT Using the 1995 Survey of Consumer Finances and an elaborate life-cycle model, we quantify the potential financial impact of each individual’s death on his or her survivors, and we measure the degree to which li