The Demand for Life Insurance in OECD Countries
研究了经合组织国家寿险消费的决定因素，发现收入弹性为正，需求随受抚养人数和教育水平增加，随预期寿命和社会保障支出减少，金融发展和市场竞争促进销售，高通胀和实际利率抑制消费。
Abstract This article examines the determinants of life insurance consumption in OECD countries. Consistent with previous results, we find a significant positive income elasticity of life insurance demand. Demand also increases with the number of dependents and level of education, and decreases with life expectancy and social security expenditure. The country's level of financial development and its insurance market's degree of competition appear to stimulate life insurance sales, whereas high inflation and real interest rates tend to decrease consumption. Overall, life insurance demand is better explained when the product market and socioeconomic factors are jointly considered. In addition, the use of GMM estimates helps reconcile our findings with previous puzzling results based on inconsistent OLS estimates given heteroscedasticity problems in the data.