College of Business: University of Illinois at Urbana-Champaign

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Jeffrey R. Brown

Professor of Finance and William G. Karnes Professor of Finance and
Director of Center for Business & Public Policy

All Publications


Articles in Journals

Brown, J., Weisbenner, S. Forthcoming. Defined Contribution Plans as a Foundation for Retirement Security. Journal of Retirement

Brown, J., Weisbenner, S. Forthcoming. Why Do Individuals Choose Defined Contribution Plans? Evidence from Participants in a Large Public Plan. Journal of Public Economics

Brown, J., Kapteyn, A., Mitchell, O. Forthcoming. Framing and Claiming: How Information-Framing Affects Expected Social Security Claiming Behavior.. Journal of Risk and Insurance

Brown, J. 2014. “Income as the Outcome: How to Broaden the Narrow Framing of U.S. Retirement Policy”. Risk Management and Insurance Review, 17: 7-16

Brown, J., Dimmock, S., Kang, J., Weisbenner, S. 2014. How University Endowments Respond to Financial Market Shocks: Evidence and Implications. American Economic Review, 104: 931-962

Brown, J., Weisbenner, S. 2013. The Distributional Effects of the Social Security Windfall Elimination Provision. Journal of Pension Economics and Finance, 12: 415-434

Brown, J., Kling, J., Mullainathan, S., Wrobel, M. 2013. Framing Lifetime Income. Journal of Retirement, 1: 27-37

Brown, J., Goda, G., McGarry, K. 2012. Long-Term Care Insurance Demand Limited by Beliefs about Needs, Concerns about Insurers, and Care Available from Family.. Health Affairs, 31: 1294-1302

Brown, J., Clark, R., Rauh, J. 2011. The Economics of State and Local Pensions. Journal of Pension Economics and Finance, 10: 161-172

Brown, J., Finkelstein, A. 2011. Insuring Long-Term Care in the U.S.. Journal of Economic Perspectives, 25: 119-142

Brown, J., Coile, C., Weisbenner, S. 2010. The Effect of Inheritance Receipt on Retirement Decisions. Review of Economics and Statistics, 92: 425-434

Brown, J., Coronado, J. 2009. Is Social Security Part of the Social Safety Net? Tax Policy and the Economy

Brown, J., Finkelstein, A. 2009. The Private Market for Long-Term Care Insurance in the United States: A Review of the Evidence. Journal of Risk and Insurance, 76: 5-29

Brown, J., Wilcox, D. 2009. Discounting State and Local Pension Liabilities. The American Economic Review, 99: 538-542

Baicker, K., Brown, J., Holtz-Eakin, D., Orszag, P. 2008. The Future of Social Security, Medicare and Medicaid: Is U.S. Entitlement Spending Sustainable? Risk Management and Insurance Review, 11: 1-21

Brown, J. 2008. Guaranteed Trouble: The Economic Effects of the Pension Benefit Guarantee Corporation. Journal of Economic Perspectives, 22: 177-198

Brown, J., Finkelstein, A. 2008. The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market. The American Economic Review, 98: 1083-1102

Brown, J., Ivkovich, Z., Smith, P., Weisbenner, S. 2008. Neighbors Matter: Causal Community Effects and Stock Market Participation. Journal of Finance, 63: 1509-1531

Brown, J., Kling, J., Mullainathan, S., Wrobel, M. 2008. Why Don't People Insure Late Life Consumption? A Framing Explanation of the Under-Annuitization Puzzle.. The American Economic Review, 98: 304-309

Brown, J., Finkelstein, A. 2007. Why is the Market for Long-Term Care Insurance so Small? Journal of Public Economics, 91: 1967-1991

Brown, J., Liang, N., Weisbenner, S. 2007. Individual Account Investment Options and Portfolio Choice: Behaviorial Lessons from 401 (k) Plans. Journal of Public Economics, 91: 1992-2013

Brown, J., Liang, N., Weisbenner, S. 2007. Executive Financial Incentives and Payout Policy: Evidence from the 2003 Dividend Tax Cut. Journal of Finance, 62: 1935-1965

Brown, J. 2006. The Political Economy of Government-Issued Survivor Bonds. Journal of Risk and Insurance

Brown, J. 2006. Comment on David Wilcox, "Reforming the Defined-Benefit Pension System". Brookings Papers on Economic Activity

Brown, J., Liang, N., Weisbenner, S. 2006. 401(k) Matching Contributions in Company Stock: Costs and Benefits for Firms and Workers. Journal of Public Economics, 90: 1315-1346

Brown, J., Biggs, A., Springstead, G. 2005. Alternative Methods of Price Indexing Social Security: Implications for Benefits and System Financing. The National Tax Journal

Davidoff, T., Brown, J., Diamond, P. 2005. Annuities and Individual Welfare. The American Economic Review, 95: 1573-1590

Brown, J., Cummins, D., Lewis, C., Wei, R. 2004. An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance. Journal of Monetary Economics, 51: 861-898

Brown, J. 2003. Redistribution and Insurance: Mandatory Annuitization with Mortality Heterogeneity. Journal of Risk and Insurance, 70: 17-41

Brown, J. 2003. Review of Daniel Shaviro "Making Sense of Social Security Reform". Journal of Economic Literature, 41: 230-231

Brown, J., Goolsbee, A. 2002. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry. Journal of Political Economy, 110: 481-507

Brown, J., Kroszner, R., Jenn, B. 2002. Federal Terrorism Risk Insurance. The National Tax Journal, LV: 647-657

Brown, J. 2001. Private Pensions, Mortality Risk, and the Decision to Annuitize. Journal of Public Economics, 82: 29-62

Brown, J. 2000. Discussion of Moshe Milevsky and Chris Robinson "Self-Annuitization and Ruin in Retirement". North American Actuarial Journal

Brown, J., Poterba, J. 2000. Joint Life Annuities and the Demand for Annuities by Married Couples. Journal of Risk and Insurance, 67: 527-553

Brown, J., Mitchell, O., Poterba, J., Warshawsky, M. 1999. Taxing Retirement Income: Non-Qualified Annuities and Distributions from Qualified Accounts. The National Tax Journal, LII: 563-591

Mitchell, O., Poterba, J., Warshawsky, M., Brown, J. 1999. New Evidence on the Money's Worth of Individual Annuities. The American Economic Review, 89: 1299-1318

Books

Brown, J. 2010. Public Markets and Private Insurance. Washington, DC: American Enterprise Institute Press.

Brown, J., Liebman, J., Wise, D. Jeffrey R. Brown, Jeffrey Liebman and David Wise (Ed.). 2009. Social Security Policy in a Changing Environment. Chicago, IL: University of Chicago Press.

Brown, J., Mitchell, O., Poterba, J., Warshawsky, M. 2001. The Role of Annuities in Financing Retirement.. MIT Press.

Monograph

Brown, J. 2009. Automatic Lifetime Income as a Path to Retirement Security

Chapters in Books

Brown, J., Dimmock, S., Weisbenner, S. Forthcoming. The Supply and Demand for Charitable Donations to Higher Education.. In How the Great Recession Affected Higher Education

Brown, J., Nijman, T. 2012. Options to Improve the Decumulation of Pension Wealth in the Netherlands. In The Future of Multi-Pillar Pensions. Netspar.

Brown, J., Biggs, A. 2010. Reforming the Pension Benefit Guaranty Corporation. In Jeffrey Brown (Ed.), Public Insurance and Private Markets, 54-85. Washington, DC: American Enterprise Institute Press.

Brown, J. 2009. Understanding the Role of Annuities in Retirement Planning. In Annamaria Lusardi (Ed.), Overcoming the Saving Slump, 178-206. Chicago, IL: University of Chicago Press.

Brown, J., Weisbenner, S. 2009. Who Chooses Defined Contribution Plans?. In Jeffrey R. Brown, Jeffrey Liebman, and David Wise (Ed.), Social Security Policy in a Changing Environment, 131-161. Chicago, IL: University of Chicago Press.

Brown, J. 2008. Comment on John Beshears, James Choi, David Laibson and Brigitte Madrian, "The Importance of Default Options for Retirement Savings Outcomes: Evidence from the United States". In Zvi Bodie, Dennis McLeavey and Laurence Siegel (Ed.), The Future of LifeCycle Saving and Investing. CFA Institute.

Brown, J. 2007. Comment on Mihir Desai, Dhammika Dharmapala and W. Fung, "Taxation and the Evolution of Aggregate Corporate Ownership Concentration". In Alan Auerbach, James Hines and Joel Slemrod (Ed.), Taxing Corporate Income in the 21st Century. Cambridge, England: Cambridge University Press.

Brown, J., Finkelstein, A., Coe, N. 2007. Medicaid Crowd-Out of Private Long Term Care Insurance Demand: Evidence from the Health and Retirement Survey. In James M. Poterba (Ed.), Tax Policy and the Economy, 2007

Brown, J., Weisbenner, S. 2004. Intergenerational Transfers and Savings Behavior. In David A. Wise (Ed.), Perspectives on the Economics of Aging, 181-201. Chicago, IL: University of Chicago Press.

Brown, J., Jenn, B. 2002. Retirement Security. In Economic Report of the President 2002

Brown, J., Liebman, J., Pollet, J. 2002. Estimating Life Tablets that Reflect Socioeconomic Differences in Mortality. In M. Feldstein and J. Liebman (Ed.), The Distributional Effects of Social Security Reform, 447-457. Chicago, IL: University of Chicago Press.

Brown, J., Mitchell, O., Poterba, J. 2001. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program. In J. Campbell and M. Feldstein (Ed.), Risk Aspects of Investment-Based Social Security Reform, 321-360. Chicago, IL: University of Chicago Press.

Working Papers

Brown, J., Ivkovich, Z., Weisbenner, S. 2014. Empirical Determinants of Intertemporal Choice," Revise and Resubmit, Journal of Financial Economics

Brown, J., Pollet, J., Weisbenner, S. 2012. The Investment Behavior of State Pension Plans

Brown, J., Farrell, A. 2011. The Downside of Defaults

Brown, J., Kling, J., Mullainathan, S., Wiens, G., Wrobel, M. 2008. Framing, Reference Points and Preferences for Life Annuities

Presentations

Brown, J. 2011. It's All in How You Frame It, Institutional Investor Defined Contribution Forum, Coral Gables.

Brown, J. 2011. The Downsides of Defaults, State Universities Retirement System (SURS), Champaign.

Brown, J. 2011. Framing Effects and Expected Social Security Claiming Behavior, Department of AcES seminar, Urbana.

Brown, J. 2010. Automatic Lifetime Income as a Path to Retirement Security, Northwestern University, Chicago.

Brown, J. 2010. The Governance of University Endowments, University of Illinois Law School Colloquium, Champaign.

Brown, J. 2010. Why I Lost My Secretary: The Effect of Endowment Shocks on University Operations, National Bureau of Economic Research, Summer Institute, Cambridge.

Brown, J. 2009. THIS SECTION OF MY CV IS NOT UP-TO-DATE DUE TO PROBLEMS ENTERING DATA IN FSDB. INFORMATION FROM 2005-2008 IS MISSING., NBER, -.

Brown, J. 2009. The Future of Retirement Income Adequacy in DC Plans, East Coast Pensions and Investments Conference, Miami.

Brown, J. 2009. Reforming the Pension Benefit Guaranty Corporation, American Enterprise Institute, Washington.

Brown, J. 2009. Presentation, Discounting State and Local Pension Liabilities, American Economic Association Meetings, San Francisco.

Brown, J. 2009. Presentation, Why Do Individuals Choose Defined Contribution Plans?, American Economic Association Meetings, San Francisco.

Brown, J. 2004. The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market, NBER Insurance Meetings, Cambridge.

Brown, J. 2004. An Empirical Analysis of the Economic Impact of Federal Terrorism Insurance, NBER Insurance Meetings, Cambridge.

Brown, J. 2004. High Prices, Limited Benefits: Is This Why the Elderly Don't Buy Long Term Care Insurance?, American Economic Association Meetings, San Diego.

Brown, J. 2004. Household Demand for Variable Annuities, American Economic Association Meetings, San Diego.

Brown, J. 2004. Designing Payouts from Personal Accounts in Social Security, University of Illinois Cross Campus Initiative on Aging, Champaign.

Brown, J., Ivkovich, Z., Smith, P., Weisbenner, S. 2004. The Geography of Stock Market Participation: The Influence of Communities and Local Firms, Western Finance Association Annual Meetings, 2011, Vancouver.

Brown, J. 2003. High Prices, Limited Benefits: Is This Why the Elderly Don't Buy Long Term Care Insurance?, University of Wisconsin

Brown, J. 2003. The Federal Terrorism Risk Insurance Act of 2002, National Bureau of Economic Research, Insurance Program, Cambridge.

Brown, J. 2003. Why Is the Market for Long-Term Care Insurance So Small?, National Bureau of Economic Research, Public Economics Program

Brown, J. 2003. Why is the Market for Long-Term Care Insurance So Small?, American Risk and Insurance Association Annual Meeting, Denver.

Brown, J. 2003. Would Annuitizing Personal Accounts Really Redistribute from the Poor to the Rich, APEE Meetings, Las Vegas.

Brown, J. 2003. Annuities and Individual Welfare, National Bureau of Economic Research, Insurance Program, Cambridge.

Brown, J. 2002. Insuring Longevity Risk in Public Pension Plans, International Network of Pension Regulators and Supervisors, Reykjavik.

Brown, J. 2002. Redistribution and Insurance: Mandatory Annuitization with Mortality Heterogeneity, London School of Economics, London.

Brown, J. 2002. An Economist's View of Social Security Reform, University of Virginia, Charlottesville.

Brown, J. 2002. Insuring Longevity Risk in Public Pension Plans, World Bank Seminar, Washington.

Brown, J. 2002. Social Security Reform and National Saving, United States House of Representatives Committee on Ways and Means, Washington.

Brown, J. 2002. Strengthening Social Security, U.S. Army War College Seminar, Washington.

Brown, J. 2002. An Overview of Annuity Design Issues, National Academy of Social Insurance, the Urban Institute, Washington.

Brown, J. 2002. Analysis of the Recommendations of the President's Commission to Strengthen Social Security, National Bureau of Economic Research, Social Security Program, Cambridge.

Brown, J. 2002. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry, Ohio State University, Columbus.

Brown, J. 2002. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry, University of Michigan, Ann Arbor.

Brown, J. 2002. Redistribution and Insurance: Mandatory Annuitization with Mortality Heterogeneity, Annuities Conference, London.

Brown, J. 2002. Redistribution and Insurance: Mandatory Annuitization with Mortality Heterpgeneity, American Risk and Insurance Association Annual Meeting, Montreal.

Brown, J. 2001. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry, Harvard University Belfer Center for Business and Government, Cambridge.

Brown, J. 2001. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry, Harvard University Public Economics Seminar Series, Cambridge.

Brown, J. 2001. Reforming Social Security, American Council of Life Insurers meeting of CEOs, Washington.

Brown, J. 2001. Federal Terrorism Risk Insurance, NBER workshop on terrorism insurance, Cambridge.

Brown, J. 2001. How Do We Insure Longevity Risk in Pensions and Social Security?, National Academy of Social Insurance, Washington.

Brown, J. 2001. Intergenerational Transfers and Savings Behavior, NBER Aging Conference, Carefree.

Brown, J. 2000. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry, University of Pennsylvania, Wharton School, Philadelphia.

Brown, J. 2000. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry, University of South Carolina, Columbia.

Brown, J. 2000. Mortality Risk, Inflation Risk, and Annuity Products, Pension Research Council, Philadelphia.

Brown, J. 2000. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program, National Bureau of Economic Research, Insurance Program, Cambridge.

Brown, J. 2000. Differential Mortality and the Value of Individual Account Retirement Annuities, American Risk and Insurance Association Annual Meeting, Baltimore.

Brown, J. 2000. Longevity Insured Retirement Distributions from Pension Plans: Market and Regulatory Issues, SIEPR/Brookings/TIAA-CREF Conference on Public Policy and Private Pensions, Washington.

Brown, J. 2000. Private Pensions, Mortality Risk, and the Decision to Annuitize, Risk Theory Society, Minneapolis.

Brown, J. 2000. Search, Prices and the Internet: Evidence from the Life Insurance Industry, American Risk and Insurance Association Annual Meeting, Baltimore.

Brown, J. 2000. Private Pensions, Mortality Risk, and the Decision to Annuitize, University of Chicago, Chicago.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, Georgia State University Department of Risk Management and Insurance seminar series, Atlanta.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, Harvard University, Cambridge.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, Harvard University, Cambridge.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, TIAA-CREF Institute, New York.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, University of Maryland, College Park.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, Williams College, Williamstown.

Brown, J. 1999. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program, NBER Conference on Risk Aspects of Investment-Based Social Security Reform, Islamorado.

Brown, J. 1999. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirment Program, NBER Aging Conference, Cambridge.

Brown, J. 1999. Are the Elderly Really Over-Annuitized? New Evidence on Life Insurance and Bequests, NBER Aging Conference, Carefree.

Brown, J. 1999. Differential Mortality and the Value of Individual Account Retirement Annuities, NBER Conference on Distributional Effects of Social Security Reform, Woodstock.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, University of Michigan, Ann Arbor.

Brown, J. 1999. Private Pensions, Mortality Risk, and the Decision to Annuitize, American Risk and Insurance Association Annual Meeting, Vancouver.

Brown, J. 1998. New Evidence on the Money's Worth of Individual Annuities, University of Pennsylvanis, Wharton School, Philadelphia.

Brown, J. 1998. Private Pensions, Mortality Risk, and the Decision to Annuitize, Massachusetts Institute of Technology, Cambridge.

Brown, J. 1998. Joint Life Annuities and the Demand for Annuities by Married Couples, NBER Aging Conference, Cambridge.

Brown, J. 1998. Private Pensions, Mortality Risk, and the Decision to Annuitize, Miami University, Oxford.

Other Publications

Brown, J. 2012. Fiscal Sustainability and Retirement Security: A Reform Proposal for the Illinois State Universities Retirement System (SURS)

Brown, J. 2012. A Time for Action: Reforming the Illinois State Universities Retirement System

Brown, J. 2009. Framing and Annuities, TIAA CREF Institute "Trends and Issues" with Jeffrey Kling, Sendhil Mullainathan and Marian Wrobel

Brown, J. 2009. Automatic Lifetime Income as a Path to Retirement Income Security

Brown, J. 2008. Financial Education and Annuities: A Report to the OECD Financial Education Project

Brown, J. 2008. A Paycheck for Life: The Role of Annuities in Your Retirement Portfolio, TIAA CREF Institute "Trends and Issues"

Brown, J. 2004. The New Retirement Challenge

Brown, J. 2004. "Don't Just Save Social Security, Improve It." TIAA-CREF's "Advance" Magazine (Winter issue)

Brown, J. 2002. Modernizing Social Security, published in The American Enterprise

Brown, J. 2002. Retirement Security, Chapter 2 of the Economic Report of the President

 

Contact Information:

4034 BIF
515 East Gregory Drive
Champaign, IL, 61820
(217) 333-3322
brownjr@illinois.edu


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