Academic Publications
How Generous Are Societies toward Their Elderly?
Avia Spivak, Aviad Tur-Sinai
October 2021
A European Comparative Study of Replacement Rates, Well-Being and Economic Adequacy
Pension reform - Lessons from abroad
Avia Spivak, David Leiser
March 2021
Benne van Popta and Onno Steenbeek share key findings from a study they did on Pension Reform in 9 countries, including Israel
Reforms in the Israeli pension system
Reuben Gronua, Avia Spivak
The past two decades have been marked by changes in the structure of pension saving and the entities involved in pension savings.
Mass-customization of insurance a valuation perspective
Zvika Afik, Tomer Shushi ,Rami Yosef
This paper presents a large set of flexible products that can be easily tailored to meet individual customer demand.
Young people in debt (Hebrew)
Daphna Kahana
January 2020
A lit. review of household over-indebtness with emphasis on young debtors, in Israel and abroad
Communication with the public on pension issues (Hebrew)
David Leiser, Eyal Carmel, Hernan Rosenblum, Eyal Menaged
August 2019
This report establishes the infrastructure for effective intervention in the conduct of the public in matters of pensions.
Financial illiteracy, irrational thinking prevents people from saving for retirement​
Ravit Rubinstein-Levi and Haim Kedar-Levy
March 2019
Most people in Western countries fail to plan sufficiently for retirement, two BGU researchers have claimed in a new study.
Rethinking the benefits of pension trading in Israel (Hebrew)
Ilanit Gavious, Rami Yosef, Shenhav Malul, Tehila Kalagy
We provide a new model for an effective distribution of pension tax incentives.
How we misunderstand economics and why it matters?
David Leiser and Yhonatan Shemesh
This is the first book to explain why people misunderstand economics.
The implementation of compulsory pension in Israel: predicted replacement rates for the current workforce based on realistic parameters
Sarit Menahem Carmi and Avia Spivak
July 2018
This study examined how successful was the implementation of compulsory pension in Israel.
A state dependent reinsurance model
Onno Boxmaa, Esther Frostig, David Perry, Rami Yosef
March 2017
We consider the surplus of an insurance company that employs reinsurance.
Mandatory pension reform in Israel: a study based on economic and psychological tools (Hebrew)
Avia Spivak, Eyal Carmel, Shachar Zemach
March 2017
This paper is unique in its database of real people, and it reflects their actual behavior as well as their psychological attitudes.
The conspiratorial style in lay economic thinking
David Leiser, Nofar Duani, Pascal Wagner-Egger
This study investigates patterns of lay perception of economics, and in particular the place of conspiratorial thinking regarding the economic domain.
Differing conceptions of the causes of the economic crisis
David Leiser, Rinat Benita, Sacha Bourgeois-Gironde
February 2016
We report findings from a survey regarding the lay perception of the causes of the world-wide economic and financial crisis.
There is no annuity puzzle in the DB system: annuity– preferences and psychological factors in Israel
Omer Selivansky, David Leiser, Avia Spivak
The current study examines the withdrawals preferences of the population of Israel and the psychological and demographic factors that affect them.
What determines the credibility of the central bank of israel in the public eye?
Zeev Kril, David Leiser, Avia Spivak
This paper examines the Central Banks credibility with psychological approach.
Mendatory pension in Israel – how inequality among retirees has changed (Hebrew)
Shachar Zemach, Avia Spivak
The obligatory pension applied to the market in early 2008 is designed first and foremost to reduce the rate of inequality and poverty in the retired po
The crisis in the non-bank credit of 2009 (Hebrew)
Avia Spivak
This work documents the creation of the non-bank credit market in Israel and the failures discovered “loud and clear” during the global economic crisis.
Facing a biased adviser while choosing a retirement plan. The impact of financial literacy and fair disclosure
Eyal carmel, Dana Carmel, David Leiser, Avia Spivak
The aim of the present study was to explore the effect of the advice given by an insurance agent, along with that of two further factors.
Pension as an allowence or a onetime capital withdrawal? preferences and psychological factor (Hebrew)
Omer Selivansky
The study examined the extent of “The Annuity Puzzle” phenomenon in Israel and the influence of personal characteristics on saving preferences.
Choose today for tomorrow’s sake: The insurance agent’s influence on selecting a track for pension savings (Hebrew)
David Leiser, Avia Spivak, Eyal Carmel
This study looking at whether the pension plan choice is related to the recommendation of the insurance agent.
Pensions in israel and abroad: Main developments approaches and ideological influences (Hebrew)
Avia Spivak
April 2013
This article was published as part of a series of economic disputes in order to differentiate between facts and opinions in the field of pensions.
Corporate Social Responsibility (CSR) and firm performance
Zvi Amrousy, Ilanit Gavious, Hagai Katz, Rami Yosef
November 2012
There are different views of the role of the firm in a society and disagreements as to whether wealth maximization should be the sole goal of a corporat
Barriers to retirement savings in Israel (Hebrew)
David Leiser, Eyal Carmel
The review was written upon request from Israel Consumer Council in order to examine the barriers to retirement saving in Israel.
The effect of expected changes in future income on consumption (Hebrew)
Omer Glass
The present study examined the question: “How does the individual respond to changes in his expected income in the event that it is known to him?”
The pension system in Israel with its two levels: an overview of the accepted reforms, both its Institutional and its quantitative Sides (Hebrew)
Avia Spivak
Feburary 2012
This study examines the Israeli pension system with its two levels – National Insurance and Pensionary Saving.
The pension system in israel after fifteen years of reform (Hebrew)
Leah Achdut, Avia Spivak
This study is part of a comprehensive study designed to examine the development of the pension system in Israel, and the current image in its achievemen
The new world of pensions – after the 2003 explosion (Hebrew)
Rami Yosef, Avia Spivak
This booklet reviews the implications of the 2003 reform on the rights of the insured in pension funds and explores the consequences of selling the new
Mendatory retirement law in Israel (Hebrew)
Rami Yosef, Avia Spivak
This article, which was published in 2005, provided the basis for mandatory pension law legislation in Israel.