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Author :
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (35 download)
Download or read book Keynesianism, Pennsylvania Avenue Style written by and published by . This book was released on 1996 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maxwell Dylan Kellogg
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.4/5 (64 download)
Download or read book Spousal Labor Supply and the Welfare Implications of Disability Insurance Reform written by Maxwell Dylan Kellogg and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a life cycle model to study interactions between household self-insurance and the U.S. Disability Insurance (DI) system. The model is motivated and guided by evidence from panel data on disability onset in U.S. households, showing that married workers benefit from both higher self-insurance capacity and higher utilization of DI compared to unmarried workers--who are left, by contrast, more exposed to the costs of disability. These responses are consistent with adverse selection, whereby the long application process and strict work limitations of the DI system screen out worse self-insured workers. Accounting for household self-insurance and the implicit costs of utilizing the DI system, the model delivers novel insights into the welfare implications of DI reform. Welfare gains from DI reforms are large, especially ones that lower the costs of acquiring DI benefits and consequently provide income support to households that value it highly. Accounting for the substantial insurance value that expansionary reforms provide is important for drawing these welfare conclusions. On the other hand, accounting for the self-insurance provided by spousal labor supply and pooled family savings is also important, as it reduces welfare gains from DI reforms by as much as 25 percent.
Author : Jonathan Gruber
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 (243 download)
Download or read book Spousal Labor Supply as Insurance written by Jonathan Gruber and published by . This book was released on 1996 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the role of spousal labor supply as insurance against spells of unemployment. Standard theory suggests that women should work more when their husbands are out of work (the Added Worker Effect or AWE), but there has been little empirical support for this contention. We too find little evidence of an AWE over the 1984-1993 period. We suggest that one reason for the absence of the AWE may be that unemployment insurance (UI) is providing a state-contingent income stream that counteracts the negative income shock from the husband's unemployment. We in fact find that increases in the generosity of UI lower labor supply among wives of unemployed husbands. Our results suggest that UI is crowding out a sizeable fraction of offsetting spousal earnings in response to unemployment spells, although even in the absence of a UI system the spousal response would only make up a small share of the associated reduction in family income. We also find evidence that families are making labor supply decisions in a life cycle context, since there are effects of UI on the labor supply of wives of employed husbands who face high unemployment risk. Yet, couples do not appear able to smooth the labor supply response to UI income flows equally over periods of employment and unemployment, suggesting the presence of liquidity constraints. Finally, wives in families with small children are more responsive to UI benefits in their labor supply decisions, which is consistent with the notion that they have a higher opportunity cost of market work.
Author : Melissa A. Boyle
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (888 download)
Download or read book Spousal Labor Market Effects from Government Health Insurance written by Melissa A. Boyle and published by . This book was released on 2014 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring the overall impact of public health insurance receipt is important in an era of increased access to publicly-provided and subsidized insurance. Although government expansion of health insurance to older workers leads to labor supply reductions for recipients, there may be spillover effects on the labor supply of uncovered spouses. While theory predicts a decrease in overall household work hours, financial incentives such as credit constraints, target income levels, and the need for own health insurance suggest that spousal labor supply might increase. In contrast, complementarities of spousal leisure would predict a decrease in labor supply for both spouses. Utilizing a mid-1990s expansion of health insurance for U.S. veterans, we provide evidence on the effects of public insurance availability on the labor supply of spouses. Using data from the Current Population Survey and Health and Retirement Study, we employ a difference-in-differences strategy to compare the labor market behavior of the wives of older male veterans and non-veterans before and after the VA health benefits expansion. Our findings suggest that although household labor supply may decrease because of the income effect, wives' labor supply increases, suggesting that financial incentives dominate complementarities of spousal leisure. This effect is strongest for wives with lower education levels and lower levels of household wealth. Moreover, wives with employer-provided health insurance in the previous year remain on the job while those without increase their hours, suggesting incentives to retain or obtain health insurance. Finally, non-working wives enter the labor force, those who were working part-time increase their hours, and full-time "career" women are largely unaffected.
Author : Kandice A. Kapinos
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Changes in Spousal Health Insurance Coverage and Female Labor Supply Decisions written by Kandice A. Kapinos and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the changing relationship between spousal health insurance coverage and labor market outcomes for married women over time as healthcare costs have increased. In particular, I investigate how husbands' health insurance coverage offers affect wives' decisions to enter the labor force and work full-time and how this has changed over time. I endeavor to correct for potential biases of these effects by 1) using an instrumental variables model to deal with endogeneity and 2) estimating and netting out likely unobserved heterogeneity biases, such as assortative mating or income effects. Using Current Population Survey data from 1995 to 2005, I find that husband's employer provided health insurance coverage has a negative effect on wife's labor supply that has increased (become more negative) over time.
Author : Xiao Han
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Spillover Effect of Long-Term Care Insurance on Spousal Labor Supply written by Xiao Han and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a nationally representative data in China, this study applies a difference-in-difference method to estimate the effect of long-term care insurance (LTCI) on spousal labor supply. First, we find LTCI increases the probability of spousal labor participation by 3.4 percentage points and increases the hourly income of paid employment by CNY 1.9. Second, the study finds two possible channels through which the spillover effect operates: LTCI increases spousal labor supply by reducing informal care hours (substitution effect) and suppresses spousal labor supply by providing a stream of nonwage income (income effect). Third, the spillover effect differs by LTCI design: the effect is larger if it covers only the severely disabled rather than additionally covering the moderately disabled, and if LTCI provides benefits-in-kind services rather than benefits-in-cash services. The findings provide evidences on how LTCI affects the labor supply, which is vital for maintaining economic growth in a rapidly aging economy.
Author : Susan Chen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Spousal Labor Supply Responses to Government Programs written by Susan Chen and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disability is a permanent unexpected shock to labor supply which according to the theory of the added worker effect should induce a large spousal labor supply response. The Disability Insurance (DI) program is designed to mitigate the income lost due to disability. To the extent that it does this, it can crowd out the spousal labor supply response predicted by the added worker effect theory. Using a unique data that matches administrative data combining worker's earnings histories and disability insurance applications, this study finds that DI crowds out spousal labor force participation by 6 percent and the displacement spans multiple years. The estimated crowd-out effects are also larger for younger wife cohorts and cohorts with particular types of impairments such as musculoskeletal disease.
Author : Merve Cebi
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (71 download)
Download or read book Employer-provided Health Insurance and Labor Supply of Married Women written by Merve Cebi and published by . This book was released on 2011 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work presents new evidence on the effect of husbands' health insurance on wives' labor supply. Previous cross-sectional studies have estimated a significant negative effect of spousal coverage on wives' labor supply. However, these estimates potentially suffer from bias due to the simultaneity of wives' labor supply and the health insurance status of their husbands. This paper attempts to obtain consistent estimates by using several panel data methods. In particular, the likely correlation between unobserved personal characteristics of husbands and wives-such as preferences for work-and potential joint job choice decisions can be controlled by using panel data on intact marriages. The findings, using data from the National Longitudinal Survey of Youth and the Current Population Survey, suggest that the negative effect of spousal coverage on labor supply found in cross-sections results mainly from spousal sorting and selection. Once unobserved heterogeneity is controlled for, a relatively smaller estimated effect of spousal coverage on wives' labor supply remains.
Author : Siha Lee
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Spousal Labor Supply, Caregiving, and the Value of Disability Insurance written by Siha Lee and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yanan Li
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Insurance Role of Household Labor Supply for Older Workers written by Yanan Li and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we explore and compare how older and younger couple households use adjustments in the wife's labor supply to mitigate the effects of negative shocks to the husband's employment status. Using difference-in-differences matching methods, we document a substantial added worker effect for younger households. However, the wives of older men do not increase employment in response to their husbands' negative employment shocks. Instead, in older households, female unemployment increases. These results are consistent with older women being constrained by the labor market in the extent to which they can adjust their labor supply to mitigate the effects of spousal employment shocks. Our findings suggest that spousal labor supply is not an effective intra-household insurance device for older households.
Author : Siha Lee
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (115 download)
Download or read book Household Responses to Disability Shocks written by Siha Lee and published by . This book was released on 2019 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines married women?s time allocation to market hours and spousal care in the event of their husbands? disability and its implications for evaluating the insurance value of the Social Security Disability Insurance (SSDI) program. First, I find that while spousal labor supply responses to husbands? disability are small, wives spend a sizable amount of time in spousal care after their husbands become disabled. Motivated by these facts, I develop a dynamic model of married households that incorporates husbands? disability status, wives? time allocation choices, health state dependent utility, and the institutional features of SSDI. Counterfactual experiments indicate that caregiving needs substantially attenuate spousal labor supply responses and increase the insurance value of SSDI relative to its costs. Furthermore, policy reforms such as supplementary caregiving benefits can improve social welfare.
Author : Martin Halla
Publisher :
ISBN 13 :
Total Pages : 79 pages
Book Rating : 4.:/5 (13 download)
Download or read book Job Displacement, Family Dynamics and Spousal Labor Supply written by Martin Halla and published by . This book was released on 2018 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study interdependencies in spousal labor supply and the effectiveness of intrahousehold insurance in a sample of married couples, where the husband loses his job due to a mass layoff or plant closure using data from the Austrian Social Security Database. We show that in our sample of relatively young couples the shock hits households at crucial stages of family formation, which requires careful modeling of the wives' counterfactual lifecycle labor market patterns. In our empirical analysis, we propose three independent control groups of unaffected households to identify the causal effects of husbands' displacement on wives' labor supply. Our empirical results show that husbands suffer large and persistent employment and earnings losses over the first 5 years after displacement. But wives' labor supply increases only moderately and they respond predominantly at the extensive margin. The implied participation elasticity with respect to the husband's earnings shock is very small, about -0:04. While the wives' earnings gains recover only a tiny fraction of the household income loss, public transfers and taxes are a more important insurance at least in the short run. In terms of non-labor market related outcomes, we find a small positive effect on the probability of divorce, but no effect of the husband's job displacement on fertility. The presence and ages of children in the household are crucial determinants of the wife's labor supply response. The most responsive group are mothers, who are planning to return to the labor market after a maternity break, while mothers of very young children or wives without children remain unresponsive. We thus conclude that Austria's strong gender identity norms are an explanation for the limited scope of intra-household insurance.
Author : Itzik Fadlon
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (913 download)
Download or read book Household Responses to Severe Health Shocks and the Design of Social Insurance written by Itzik Fadlon and published by . This book was released on 2015 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how households respond to severe health shocks and the insurance role of spousal labor supply. In the empirical part of the paper, we provide new evidence on individuals' labor supply responses to spousal health and mortality shocks. Analyzing administrative data on over 500,000 Danish households in which a spouse dies, we find that survivors immediately increase their labor supply and that this effect is entirely driven by those who experience significant income losses due to the shock. Notably, widows -- who experience large income losses when their husbands die -- increase their labor force participation by more than 11%, while widowers -- who are significantly more financially stable -- decrease their labor supply. In contrast, studying over 70,000 households in which a spouse experiences a severe health shock but survives -- for whom income losses are well-insured in our setting -- we find no economically significant spousal labor supply responses, suggesting adequate insurance coverage for morbidity (vs. mortality) shocks. In the theoretical part of the paper, we develop a method for welfare analysis of social insurance using only spousal labor supply responses. In particular, we show that the labor supply responses of spouses fully identify the welfare gains from insuring households against health and mortality shocks. Our findings imply large welfare gains from transfers to survivors and identify efficient ways for targeting government transfers.
Author : Itzik Fadlon
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Family Labor Supply Responses to Severe Health Shocks written by Itzik Fadlon and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence on how household labor supply responds to fatal and severe non-fatal health shocks in the short- and medium-run. To identify the causal effects of these shock realizations, we leverage administrative data on families' health and labor market outcomes, and construct counterfactuals to affected households by using households that experience the same shock but a few years in the future. We find that fatal health shocks lead to an immediate increase in the surviving spouses' labor supply and that this effect is entirely driven by families who experience significant income losses. Accordingly, widows, who face large income losses when their husbands die, increase their labor force participation by more than 11%; while widowers, who are significantly more financially stable, slightly decrease their labor supply. Notably, however, the patterns of sensitivity to comparable income changes are similar across genders. In contrast to fatal shocks, we find that non-fatal health shocks--in particular, heart attacks or strokes--have no meaningful effects on spousal labor supply, consistent with the adequate insurance coverage for the associated foregone income. Overall, the results point to self-insurance as a driving mechanism for the family labor supply responses that we estimate. Combined with a stylized model, our findings suggest efficient ways to target government transfers through existing social insurance programs.
Author : Melissa A. Boyle
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Spousal Labor Market Effects from Government Health Insurance written by Melissa A. Boyle and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andreas Pollak
Publisher : Mohr Siebeck
ISBN 13 : 9783161493041
Total Pages : 204 pages
Book Rating : 4.4/5 (93 download)
Download or read book Optimal Unemployment Insurance written by Andreas Pollak and published by Mohr Siebeck. This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
Author : David H. Autor
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (13 download)
Download or read book Disability Benefits, Consumption Insurance, and Household Labor Supply written by David H. Autor and published by . This book was released on 2019 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no evaluation of the consequences of Disability Insurance (DI) receipt that captures the effects on households' net income and consumption expenditure, family labor supply, or benefits from other programs. Combining detailed register data from Norway with an instrumental variables approach based on random assignment to appellant judges, we comprehensively assess how DI receipt affects these understudied outcomes. To consider the welfare implications of the findings from this instrumental variables approach, we estimate a dynamic model of household behavior that translates employment, reapplication and savings decisions into revealed preferences for leisure and consumption. The model-based results suggest that on average, the willingness to pay for DI receipt is positive and sizable. Because spousal labor supply strongly buffers the household income and consumption effects of DI allowances, the estimated willingness to pay for DI receipt is smaller for married than single applicants.
