SPOUSAL LABOR SUPPLY, CAREGIVING, AND THE VALUE OF DISABILITY INSURANCE

• 成果类型: Article
• 署名作者: Lee, Siha
• 署名单位: Hankuk University Foreign Studies; Hankuk University Foreign Studies
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12712
• 发表日期: 2024
• 页码: 1681-1716
• 关键词: job loss; earnings losses; informal care; health-care; life-cycle; consumption; work; EMPLOYMENT; DYNAMICS; income

摘要

This article evaluates the insurance value of the Social Security Disability Insurance (SSDI) program among married households when wives face a trade-off between market hours and spousal care following their husbands' disability. Event study analyses show that wives' labor supply responses to their husbands' disability are small, and instead, a considerable amount of time is spent in spousal care. Using a dynamic structural model, I find that incorporating time loss due to spousal care increases the insurance value of SSDI relative to its costs. Finally, budget-neutral policy reforms that subsidize the cost of care can improve social welfare.