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- Title
AUTHOR'S REPLY.
- Authors
Neumann, Seev
- Abstract
This article presents a response to criticisms on a study on inflation and saving through life insurance. The author's lengthy reply to Peter Fortune's lengthy comment will show that Fortune does not suggest weaknesses in the author's methodology as Fortune claims to do; rather, he develops and tests an alternative model. This rejoinder suggests several weaknesses in Fortune's methodology and raises doubts as to the appropriateness of his model to the treatment of the intriguing question of life insurance and inflation. It should be made clear that Fortune's model deals with the expected rate of inflation, while the author's deals with the expected price level. In the author's opinion, the models are complementary, since everybody does not know, empirically, whether individuals, when deciding to save through life insurance, take into consideration the expected rate of inflation or the expected price level.
- Subjects
PRICE inflation; ECONOMIC policy; LIFE insurance; INSURANCE; NEUMANN, Seev; PRICES; PRICE regulation
- Publication
Journal of Risk & Insurance, 1972, Vol 39, Issue 2, p326
- ISSN
0022-4367
- Publication type
Article
- DOI
10.2307/251902