Details
| Original language | German |
|---|---|
| Pages (from-to) | 293-312 |
| Number of pages | 20 |
| Journal | Zeitschrift fur die gesamte Versicherungswissenschaft |
| Volume | 107 |
| Issue number | 3 |
| Publication status | Published - 2018 |
Abstract
This paper examines the wealth structure of German households from 1975 to 2014 with special reference to the asset class insurance and pension entitlements. Therefore we use a unique dataset of Deutsche Bundesbank and apply a Financial Almost Ideal Demand System (FAIDS). We find a nearly proportional reaction of the insurance share to changes in the total wealth level, but no significant impact of the insurance return to the asset class. Therefore we conclude that security and not return optimization is the main demand motive for the asset class insurance and pension entitlements. Finally, we find a positive relation between the share of the elderly in Germany and the insurance share in the portfolio.
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Accounting
- Economics, Econometrics and Finance(all)
- Finance
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
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In: Zeitschrift fur die gesamte Versicherungswissenschaft, Vol. 107, No. 3, 2018, p. 293-312.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Portfolio structure of the German households and the role of insurance and pension entitlements
AU - Schmidt, Torben
AU - Linderkamp, Tim
AU - Zuchandke, Andy
N1 - Publisher Copyright: © 2018, Springer-Verlag GmbH Deutschland, ein Teil von Springer Nature.
PY - 2018
Y1 - 2018
N2 - This paper examines the wealth structure of German households from 1975 to 2014 with special reference to the asset class insurance and pension entitlements. Therefore we use a unique dataset of Deutsche Bundesbank and apply a Financial Almost Ideal Demand System (FAIDS). We find a nearly proportional reaction of the insurance share to changes in the total wealth level, but no significant impact of the insurance return to the asset class. Therefore we conclude that security and not return optimization is the main demand motive for the asset class insurance and pension entitlements. Finally, we find a positive relation between the share of the elderly in Germany and the insurance share in the portfolio.
AB - This paper examines the wealth structure of German households from 1975 to 2014 with special reference to the asset class insurance and pension entitlements. Therefore we use a unique dataset of Deutsche Bundesbank and apply a Financial Almost Ideal Demand System (FAIDS). We find a nearly proportional reaction of the insurance share to changes in the total wealth level, but no significant impact of the insurance return to the asset class. Therefore we conclude that security and not return optimization is the main demand motive for the asset class insurance and pension entitlements. Finally, we find a positive relation between the share of the elderly in Germany and the insurance share in the portfolio.
UR - http://www.scopus.com/inward/record.url?scp=85055052483&partnerID=8YFLogxK
U2 - 10.1007/s12297-018-0418-1
DO - 10.1007/s12297-018-0418-1
M3 - Artikel
VL - 107
SP - 293
EP - 312
JO - Zeitschrift fur die gesamte Versicherungswissenschaft
JF - Zeitschrift fur die gesamte Versicherungswissenschaft
SN - 0044-2585
IS - 3
ER -