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Self-insurance Against Natural Disasters
The Use of Pension Funds in Pacific Island Countries

by Si Guo and Futoshi Narita

Series:Working Paper No. 18/155
ISBN 9781484366837
Code: #WPIEA2018155

Publication year: 2018

Cdn: $27.00; US: $23.50
Paperback
Language: English
22 pages
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Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawals 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.
Self-insurance Against Natural Disasters
Cdn: $27.00; US: $23.50
International Monetary Fund (IMF) BookID: 123079 Added: 2018.7.6