Analysis on the dynamic correlation between China life insurance demand and macro-economy
This paper applies impulse respond function and variance decomposition method based on VEC model to investigate the effect mechanism and dimensionality dynamic features of macro economy on China life insurance demand using monthly data from 2001-2010.The results show that GDP has a positive influence on life insurance premium,and this influence is significant and continuous.Inflation has a relatively small negative influence on life insurance premium.Interest rate and stock index fluctuation have positive influences on life insurance premium in the long term.Variance decomposition results show that impulse from GDP to life insurance premium is the greatest,and then is interest rate,inflation and stock index respectively.
life insurance demand macro-economy VEC model impulse respond function
XU Li LIU Jingxiang
Department of Finance,Economic School,Xiamen University,Xiamen,Fujian 361005
国内会议
北京
英文
229-237
2011-07-24（万方平台首次上网日期，不代表论文的发表时间）