This paper focuses on the relation between the onset of disability and employment outcomes. We develop an event history … onset of a disability by around 138%. However, health shocks are relatively rare events and therefore the larger part of … observed disability rates result from gradual deteriorations in health. We find no direct effect of health shocks on employment …

labour force of healthy workers through disability insurance schemes. Two types of individuals, disabled and leisure …This paper studies the design of retirement and disability policies. It illustrates the often observed exit from the …

extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the …

We model the emergence of formal insurance institutions as equilibria under limited contract enforceability where … formal and informal groups without requiring heterogeneity in insurance demand, because coalition-proof equilibria can fail … to exist. It also predicts where formal insurance is likely to flourish: insurance groups that hold savings become more …