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FSU / College of Business / Academic Programs / Departments / Risk Mgt./Ins., Real Estate and Legal Studies / Faculty & Research / Working Paper Series
Working Paper Series
| On the Demand for Portfolio InsuranceProfessor James Carson and co-authors find that insurers have increased their use of various financial tools to manage portfolio risk. However, previous research has shown that buyers of portfolio insurance pay considerably for downside protection. The authors provide the first evidence on the cost of portfolio insurance, payoff to portfolio insurance, and relative demand for portfolio insurance across VIX levels. |
| Factors Impacting Low Retirement SavingsPrior studies have considered a variety of factors that may account for the variation in wealth across U.S. households. Professor Cassandra Cole and co-authors add to existing literature in this area by more closely analyzing a subset of households - those considered low savers. More specifically, the authors empirically determine which factors most account for the low savings patterns observed by some households focusing on factors that capture financial literacy, financial planning, and risk preferences of households. The study discusses findings that some factors generally have a strong and significant impact on accumulated savings regardless of the data utilized or the level of savings of the household while other factors appear to only impact the savings of certain households. The authors also find evidence of a substitution effect for households with employer-sponsored retirement plans. |
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| The Impact of No-Fault Legislation on Automobile PremiumsSince its inception, the effectiveness of no-fault legislation has been highly debated. While some research suggests that no-fault laws are effective in reducing costs, other evidence suggests that the current no-fault systems may not meet the original objectives. Professor Cassandra Cole, Professor Patrick Maroney, Professor Kathleen McCullough and two additional co-authors take a closer look at the relation of no-fault legislation and premiums as the overall impact of no-fault as well as the specific components of the laws are of heightened importance to consumers, insurers, and lawmakers. |
