This paper provides an empirical analysis of how the U.S. Social Security and Medicare insurance system affect the labor supply of older males in the presence of incomplete markets for loans, annuities, and health insurance. Using data from the Retirement History Survey, we estimate a detailed...

We provide an empirical analysis of the Social Security disability application, award, and appeal process using the Health and Retirement Survey. We show that the appeal option increases the award probability from 46\% to 73\%. However, this comes at the cost of significant delays: the duration...