This paper studies the savings and employment effects of the asset means-test in US income support programs using a structural life-cycle model with productivity, disability, and unemployment risk. An asset means-test incentivizes low-income households to hold few financial assets making them...

This paper studies the savings and employment effects of the asset means‐test in US income support programs using a structural life‐cycle model with productivity, disability, and unemployment risk. An asset means‐test incentivizes low‐income households to hold few financial assets making...