This paper provides a life-cycle framework for weighing up the insurance value of disability benefi ts against 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 …

The Disability Insurance (DI) program in the US is a large social insurance program that offers income replacement …-age population and the cost is three times that of unemployment insurance. The key questions in thinking about the size and growth of … the DI program are whether program claimants are genuinely unable to work, and how valuable is the insurance provided …

lifetime tax reform linking annual taxes to previous employment could improve the system's insurance capabilities, albeit at …

degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX … cross-sections and distinguishes between permanent and transitory income shocks. We find some partial insurance of permanent … income shocks with more insurance possibilities for the college educated and those nearing retirement. We find little …

This paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks … cases of self-insurance and the complete markets assumption. We assess the degree of insurance over and above self-insurance … conventional demand analysis rather than reduced form imputation procedures. Our results point to some partial insurance but reject …

heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income … stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. – uncertainty ; life-cycle models ; unemployment …

heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income … stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. …

heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income … stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks.  …

unemployment insurance which provides (partial) insurance against employment risk and no insurance against persistent shocks. …