Understanding the aggregate effects of disability insurance.

Autor/inn/en	Kim, Soojin; Rhee, Serena
Titel	Understanding the aggregate effects of disability insurance. Gefälligkeitsübersetzung: Die aggregierten Auswirkungen der Berufsunfähigkeitsversicherung verstehen.
Quelle	In: Review of economic dynamics, 46 (2022) [1], S. 328-364 PDF als Volltext Link als defekt meldenVerfügbarkeit
Sprache	englisch
Dokumenttyp	online; Zeitschriftenaufsatz
ISSN	1096-6099
DOI	10.1016/j.red.2021.11.001
Schlagwörter	Älterer Arbeitnehmer; Arbeitsproduktivität; Elastizität; Mikroökonomie; Reformpolitik; USA; Auswirkung; Behinderung; Berufserfahrung; Substitution; Substitution; Elastizität; Reformpolitik; Einkommenseffekt; Mikroökonomie; Arbeitskraft; Arbeitsproduktivität; Berufsausstieg; Berufserfahrung; Erwerbsbeteiligung; Erwerbsunfähigkeitsrente; Arbeitsanreiz; Behinderung; Auswirkung; Behinderter; Älterer Arbeitnehmer; USA
Abstract	"We study the aggregate consequences of the Social Security Disability Insurance (DI) program, focusing on the role of complementarity between heterogeneous human capital. First, we develop and estimate a wage process in which individuals' human capital comprises (pure) labor and experience, and their efficiencies are affected by disability. We find that older workers are more experience-abundant, and that disability causes a smaller loss in the efficiency of experience than it does in the efficiency of labor. Further, the estimated aggregate production technology shows that labor and experience are complementary inputs. Combining these empirical results with a structural general equilibrium model, we analyze the labor market implications of removing the DI program. Removal of the DI program induces an increase in the relative supply of experience, thus affecting the marginal productivities of inputs and wages of all workers in the economy. Despite the increased labor market entry of disabled workers, the aggregate productivity may increase in the counterfactual economy, thanks to the complementarity between labor and experience." The study refers to the period 1985-2011. (Author's abstract, IAB-Doku, © 2022 Elsevier)..
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2023/1