2021
Work Capacity Assessments for Disability Benefit Determinations: An International Comparison
WP 2021-438 , UM21-03
Disability protection programs constitute a critical safety net for individuals unable to work due to disabling health conditions. Yet countries differ along a number of dimensions in terms of how their social safety nets assist people with disabilities. Learning from…
Download: Working Paper
View: Abstract
View: Abstract
Social Security Coverage Around the World: The Case of China, India, and Mexico (2021)
WP 2021-439 , UM18-Q1
We describe the current state and recent trends in the landscape of social security programs in China, Mexico and India. A common thread across these countries is the introduction and recent expansion of old-age pension programs with non-contributory components. We…
Download: Working Paper
View: Abstract
View: Abstract
Changes in the Composition of Disability Insurance Applicants and Recipients in the Wake of the Coronavirus Epidemic
WP 2021-460 , UM21-02
Despite concerns that the enormous economic and health consequences of the COVID-19 pandemic would increase Social Security disability benefit claiming, applications dropped during the first nine months of the pandemic. This paper uses Social Security Administration data on new program…
Download: Working Paper
View: Abstract
View: Abstract
2020
Estimating the Macroeconomic Effects of Each Totalization Agreement
WP 2020-408 , UM20-07
Totalization agreements coordinate the United States Social Security program with other countries’ comparable programs. We estimate each totalization agreement’s impact on a variety of bilateral trade outcomes. We find the impact is quite heterogeneous, both across agreements/countries and across sectors…
Download: Working Paper
View: Abstract
View: Abstract
The Risk of High Out-of-Pocket Health Spending among Older Americans
WP 2020-409 , UM20-09
Traditional Medicare imposes significant cost-sharing on beneficiaries. Most but not all beneficiaries obtain supplemental insurance through Medigap, Medicare Advantage, Medicaid, or employer-sponsored retiree coverage, which may vary in how well they protect against the risk of high spending. This paper…
Download: Working Paper
View: Abstract
View: Abstract
A Framework for Cost-Benefit Analysis of Totalization Agreements
WP 2020-410 , UM20-08
International social security totalization agreements eliminate double social security taxation for workers who reside and work in different country from their home country. Because totalization agreements affect a number of economic agents in a variety of ways, we develop a…
Download: Working Paper
View: Abstract
View: Abstract
Cognitive Ability, Cognitive Aging, and Debt Accumulation
WP 2020-411 , UM20-11
In the past few decades, financial products target to consumers have become increasingly complex and recent evidence suggests that older adults are entering retirement with more debt than previous generations. We examine how cognitive ability is related to debt burdens…
Download: Working Paper
View: Abstract
View: Abstract
The Impact of Growing Health and Mortality Inequalities on Lifetime Social Security Payouts
WP 2020-412 , UM20-04
The prevalence of obesity, diabetes, and other health problems has increased in recent decades in the United States, and there is a growing gap between the health and longevity of individuals with high socioeconomic status (SES) and low SES. These…
Download: Working Paper
View: Abstract
View: Abstract
Saving Regret: Self-assessed Life-cycle Saving Behavior in the U.S. and Singapore
WP 2020-413 , UM20-17
Based on the belief that many people have under-saved and that the reason for under-saving is procrastination, paternalistic nudging to foster saving is often advocated by policy researchers. However, there is little empirical evidence that on hindsight individuals would wish…
Download: Working Paper
View: Abstract
View: Abstract
Nursing Homes in Equilibrium: Implications for Long-term Care Policies
WP 2020-414 , UM20-13
We build an equilibrium model of the market for nursing home care with decision-makers on both sides of the market. The nursing home demand arises as a result of stochastic dynamic optimizations by households heterogeneous in age, health, wealth; and…
Download: Working Paper
View: Abstract
View: Abstract