American Economic Journal: Applied Economics · 2021 · Manasi Deshpande、Tal Gross、Yalun Su
中文摘要
残疾项目与财务困境之间存在什么关系?我们利用财务困境的若干指标——破产、止赎、被驱逐和房屋出售——首次为这一关系提供了证据。这些不良财务事件的发生率在残疾申请时点前后达到峰值。利用基于年龄的资格认定规则所引致的变化,我们发现残疾津贴使破产的可能性降低20%、止赎降低33%、房屋出售降低15%。我们提供了证据表明,这些变化反映的是财务困境的真实下降。将这些极端事件纳入考量会提高最优残疾给付金额,并表明申请与领取给付之间的最优等待时间应当更短。
Abstract
What is the relationship between disability programs and financial distress? We provide the first evidence on this relationship using several markers of financial distress: bankruptcy, foreclosure, eviction, and home sale. Rates of these adverse financial events peak around the time of disability application. Using variation induced by an age-based eligibility rule, we find that disability allowance reduces the likelihood of bankruptcy by 20 percent, foreclosure by 33 percent, and home sale by 15 percent. We present evidence that these changes reflect true reductions in financial distress. Considering these extreme events increases the optimal disability benefit amount and suggests a shorter optimal waiting time between application and benefit receipt.