The Bipartisan Budget Act of 2015 partially addressed the poor state of the Social Security Disability Insurance (SSDI) Trust Fund, over the short run and the medium run. At the time of the act, the fund was roughly one year from depletion. Over the short run, Congress reallocated some portion...

Many Social Security reform proposals have emphasized the role of savings over insurance, focusing on retirement. In contrast, disability in prime working age is harder to save for and thus is arguably better considered an insurable event. However, unlike determination processes for many other...

Reverse mortgages have been obtained by nearly one million senior households. In the future, the number of eligible households will grow substantially, about 80 percent are homeowners, and many of them have substantial equity in their home. We study state-level variations in rate of originations...

In 2011 and 2012, the Federal Reserve sold Treasury securities from the short end of the yield curve at the same time it was providing market participants with date-specific assurances that overnight interest rates would not rise. We investigate how these two policies, which had conflicting...