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dc.contributor.authorLow, Hamishen_US
dc.contributor.authorPistaferri, Luigien_US
dc.date.accessioned2010-05-18en_US
dc.date.accessioned2011-07-04T09:19:34Z-
dc.date.available2011-07-04T09:19:34Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/47502-
dc.description.abstractThis paper provides a life-cycle framework for weighing up the insurance value of disability benefi ts against the incentive cost. Within this framework, we estimate the life-cycle risks that individuals face in the US, as well as the parameters governing the disability insurance program, using indirect inference and longitudinal data on consumption, disability status, disability insurance receipt, and wages. We use our estimates to characterize the effectiveness of the disability insurance program and to consider the e ffect on welfare and behaviour of policy reform. High levels of false rejections associated with the screening process imply welfare increases as the program becomes less strict, despite the worsening incentives that this implies. Incentives for false applications are reduced by reducing generosity and increasing reassessments and these improve welfare, despite the worse insurance implied.en_US
dc.language.isoengen_US
dc.publisherInst. for Fiscal Studies Londonen_US
dc.relation.ispartofseriesIFS working papers 10,11en_US
dc.subject.jelD91en_US
dc.subject.jelH53en_US
dc.subject.jelH55en_US
dc.subject.jelJ26en_US
dc.subject.ddc330en_US
dc.subject.keywordDisabilityen_US
dc.subject.keywordsocial securityen_US
dc.subject.keywordsavings behavioren_US
dc.subject.keywordwage risken_US
dc.subject.stwErwerbsunfähigkeiten_US
dc.subject.stwRisikoen_US
dc.subject.stwUnfallversicherungen_US
dc.subject.stwErwerbsunfähigkeitsrenteen_US
dc.subject.stwLebenszyklusen_US
dc.subject.stwWohlfahrtseffekten_US
dc.titleDisability risk, disability insurance and life cycle behavioren_US
dc.typeWorking Paperen_US
dc.identifier.ppn626248914en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IFS Working Papers, Institute for Fiscal Studies (IFS)

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