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American Economic Review

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https://www.readbyqxmd.com/read/29546971/disability-insurance-and-the-dynamics-of-the-incentive-insurance-trade-off
#1
Hamish Low, Luigi Pistaferri
We provide a life-cycle framework for comparing insurance and disincentive effects of disability benefits. The risks that individuals face and the parameters of the Disability Insurance (DI ) program are estimated from consumption, health, disability insurance, and wage data. We characterize the effects of disability insurance and study how policy reforms impact behavior and welfare. DI features high rejection rates of disabled applicants and some acceptance of healthy applicants. Despite worse incentives, welfare increases as programs become less strict or generosity increases...
October 2018: American Economic Review
https://www.readbyqxmd.com/read/30192468/incidental-bequests-and-the-choice-to-self-insure-late-life-risks
#2
Lee M Lockwood
Despite facing significant uncertainty about their lifespans and health care costs, most retirees do not buy annuities or long-term care insurance. In this paper, I find that retirees’ saving and insurance choices are highly inconsistent with standard life-cycle models in which people care only about their own consumption but match well models in which bequests are luxury goods. Bequest motives tend to reduce the value of insurance by reducing the opportunity cost of precautionary saving. The results suggest that bequest motives significantly increase saving and significantly decrease purchases of long-term care insurance and annuities...
September 2018: American Economic Review
https://www.readbyqxmd.com/read/30091862/do-larger-health-insurance-subsidies-benefit-patients-or-producers-evidence-from-medicare-advantage
#3
Marika Cabral, Michael Geruso, Neale Mahoney
A central question in the debate over privatized Medicare is whether increased government payments to private Medicare Advantage (MA) plans generate lower premiums for consumers or higher profits for producers. Using difference‑in‑differences variation brought about by a sharp legislative change, we find that MA insurers pass through 45 percent of increased payments in lower premiums and an additional 9 percent in more generous benefits. We show that advantageous selection into MA cannot explain this incomplete pass‑through...
August 2018: American Economic Review
https://www.readbyqxmd.com/read/30091861/marketplaces-markets-and-market-design
#4
Alvin E Roth
Marketplaces are often small parts of large markets, and both markets and marketplaces come in many varieties. Market design seeks to understand what marketplaces must accomplish to enable different kinds of markets. Marketplaces can have varying degrees of success, and there can be marketplace failures. I’ll discuss labor markets like the market for new economists, and also markets for new lawyers and doctors that have suffered from the unraveling of appointment dates to well before employment begins. Markets work best if they enjoy social support, but some markets are repugnant in the sense that some people think they should be banned, even though others want to participate in them...
July 2018: American Economic Review
https://www.readbyqxmd.com/read/30091577/escaping-malthus-economic-growth-and-fertility-change-in-the-developing-world
#5
Shoumitro Chatterjee, Tom Vogl
Following mid-twentieth century predictions of Malthusian catastrophe, fertility in the developing world more than halved, while living standards more than doubled. We analyze how fertility change related to economic growth during this episode, using data on 2.3 million women from 255 household surveys. We find different responses to fluctuations and long-run growth, both heterogeneous over the life cycle. Fertility was procyclical but declined and delayed with long-run growth; fluctuations late (but not early) in the reproductive period affected lifetime fertility...
June 2018: American Economic Review
https://www.readbyqxmd.com/read/30008480/immigration-restrictions-as-active-labor-market-policy-evidence-from-the-mexican-bracero-exclusion
#6
Michael A Clemens, Ethan G Lewis, Hannah M Postel
An important class of active labor market policy has received little impact evaluation: immigration barriers intended to raise wages and employment by shrinking labor supply. Theories of endogenous technical advance raise the possibility of limited or even perverse impact. We study a natural policy experiment: the exclusion of almost half a million Mexican ' bracero ' farm workers from the United States to improve farm labor market conditions. With novel archival data we measure state-level exposure to exclusion, and model the labor-market effect in the absence of technical change...
June 2018: American Economic Review
https://www.readbyqxmd.com/read/30197432/last-place-the-intersection-of-ethnicity-gender-and-race-in-biomedical
#7
Gerald Marschke, Allison Nunez, Bruce A Weinberg, Huifeng Yu
No abstract text is available yet for this article.
May 2018: American Economic Review
https://www.readbyqxmd.com/read/30091573/legal-origins-and-female-hiv
#8
Siwan Anderson
More than one-half of all people living with HIV are women and 80 percent of all HIV-positive women in the world live in sub- Saharan Africa. This paper demonstrates that the legal origins of these formerly colonized countries significantly determine current-day female HIV rates. In particular, female HIV rates are significantly higher in common law sub- Saharan African countries compared to civil law ones. This paper explains this relationship by focusing on differences in female property rights under the two codes of law...
May 2018: American Economic Review
https://www.readbyqxmd.com/read/30091569/family-ruptures-stress-and-the-mental-health-of-the-next-generation
#9
Petra Persson, Maya Rossin-Slater
This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of ADHD medications during childhood and anti-anxiety and depression medications in adulthood. Further, family ruptures during pregnancy depress birth outcomes and raise the risk of perinatal complications necessitating hospitalization. Our results suggest large welfare gains from preventing fetal stress from family ruptures and possibly from economically induced stressors such as unemployment...
April 2018: American Economic Review
https://www.readbyqxmd.com/read/30091563/advertising-and-risk-selection-in-health-insurance-markets
#10
Naoki Aizawa, You Suk Kim
This paper studies the impact of advertising as a channel for risk selection in Medicare Advantage. We provide evidence that insurer advertising is responsive to the gains from risk selection. Then we develop and estimate an equilibrium model of Medicare Advantage with advertising, allowing rich individual heterogeneity. Our estimates show that advertising is effective in attracting healthy individuals who are newly eligible for Medicare, contributing to advantageous selection into Medicare Advantage. Moreover, risk selection through advertising substantially lowers premiums by improving insurers' risk pools...
March 2018: American Economic Review
https://www.readbyqxmd.com/read/29568124/how-does-household-income-affect-child-personality-traits-and-behaviors
#11
Randall Akee, William Copeland, E Jane Costello, Emilia Simeonova
We examine the effects of a quasi-experimental unconditional household income transfer on child emotional and behavioral health and personality traits. Using longitudinal data, we find that there are large beneficial effects on children's emotional and behavioral health and personality traits during adolescence. We find evidence that these effects are most pronounced for children who start out with the lowest initial endowments. The income intervention also results in improvements in parental relationships which we interpret as a potential mechanism behind our findings...
March 2018: American Economic Review
https://www.readbyqxmd.com/read/30091560/the-economic-consequences-of-hospital-admissions
#12
Carlos Dobkin, Amy Finkelstein, Raymond Kluender, Matthew J Notowidigdo
We use an event study approach to examine the economic consequences of hospital admissions for adults in two datasets: survey data from the Health and Retirement Study, and hospitalization data linked to credit reports. For non-elderly adults with health insurance, hospital admissions increase out-of-pocket medical spending, unpaid medical bills, and bankruptcy, and reduce earnings, income, access to credit, and consumer borrowing. The earnings decline is substantial compared to the out-of-pocket spending increase, and is minimally insured prior to age-eligibility for Social Security Retirement Income...
February 2018: American Economic Review
https://www.readbyqxmd.com/read/30091553/the-welfare-cost-of-perceived-policy-uncertainty-evidence-from-social-security
#13
Erzo F P Luttmer, Andrew A Samwick
Policy uncertainty reduces individual welfare when individuals have limited opportunities to mitigate or insure against the resulting consumption fluctuations. We field an original survey to measure the degree of perceived policy uncertainty in Social Security benefits and to estimate the impact of this uncertainty on individual welfare. Our central estimates show that on average individuals are willing to forgo 6 percent of the benefits they are supposed to get under current law to remove the policy uncertainty associated with their future Social Security benefits...
February 2018: American Economic Review
https://www.readbyqxmd.com/read/29445246/the-economic-consequences-of-hospital-admissions
#14
Carlos Dobkin, Amy Finkelstein, Raymond Kluender, Matthew J Notowidigdo
We use an event study approach to examine the economic consequences of hospital admissions for adults in two datasets: survey data from the Health and Retirement Study, and hospitalization data linked to credit reports. For non-elderly adults with health insurance, hospital admissions increase out-of-pocket medical spending, unpaid medical bills and bankruptcy, and reduce earnings, income, access to credit and consumer borrowing. The earnings decline is substantial compared to the out-of-pocket spending increase, and is minimally insured prior to age-eligibility for Social Security Retirement Income...
February 2018: American Economic Review
https://www.readbyqxmd.com/read/29170561/choice-inconsistencies-among-the-elderly-evidence-from-plan-choice-in-the-medicare-part-d-program-reply
#15
COMMENT
Jason Abaluck, Jonathan Gruber
We explore the in- and out- of sample robustness of tests for choice inconsistencies based on parameter restrictions in parametric models, focusing on tests proposed by Ketcham, Kuminoff and Powers (KKP). We argue that their non-parametric alternatives are inherently conservative with respect to detecting mistakes. We then show that our parametric model is robust to KKP's suggested specification checks, and that comprehensive goodness of fit measures perform better with our model than the expected utility model...
December 2017: American Economic Review
https://www.readbyqxmd.com/read/29558073/why-are-indian-children-so-short-the-role-of-birth-order-and-son-preference
#16
Seema Jayachandran, Rohini Pandi
Child stunting in India exceeds that in poorer regions like sub-Saharan Africa. Data on over 168,000 children show that, relative to Africa, India's height disadvantage increases sharply with birth order. We posit that India’s steep birth order gradient is due to favoritism toward eldest sons, which affects parents' fertility decisions and resource allocation across children. We show that, within India, the gradient is steeper for high-son-preference regions and religions. The gradient also varies with sibling gender as predicted...
September 2017: American Economic Review
https://www.readbyqxmd.com/read/29558071/can-women-have-children-and-a-career-iv-evidence-from-ivf-treatments
#17
Petter Lundborg, Erik Plug, Astrid Wurtz Rasmussen
This paper introduces a new IV strategy based on IVF (in vitro fertilization) induced fertility variation among childless women to estimate the causal effect of having children on their career. For this purpose, we use administrative data on IVF treated women in Denmark. Because observed chances of IVF success do not depend on labor market histories, IVF treatment success provides a plausible instrument for childbearing. Our IV estimates indicate that fertility effects on earnings are: (i) negative, large, and long-lasting; (ii) driven by fertility effects on hourly earnings and not so much on labor supply; and (iii) much stronger at the extensive margin than at the intensive margin...
June 2017: American Economic Review
https://www.readbyqxmd.com/read/29670297/challenges-in-constructing-a-survey-based-well-being-index
#18
Daniel J Benjamin, Kristen B Cooper, Ori Heffetz, Miles Kimball
No abstract text is available yet for this article.
May 2017: American Economic Review
https://www.readbyqxmd.com/read/29558068/teenage-motherhood-and-sibling-outcomes
#19
Jennifer A Heissel
No abstract text is available yet for this article.
May 2017: American Economic Review
https://www.readbyqxmd.com/read/29558067/does-public-assistance-reduce-recidivism
#20
Crystal S Yang
No abstract text is available yet for this article.
May 2017: American Economic Review
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