Kellogg, Maxwell - 2022 - Draft: March 31, 2022
This paper uses a life cycle model to study the welfare implications of reforms to U.S. Disability Insurance (DI) while …-neutral expansionary DI reforms do not necessarily improve welfare. However, an asset test reduces negative selection and improves the … welfare effects of DI expansions. Household self-insurance crowds out the value of DI expansions, but abstracting away from …