| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25586 |
| 来源ID | Working Paper 25586 |
| Market Inefficiency and Household Labor Supply: Evidence from Social Security\u2019s Survivors Benefits | |
| Itzik Fadlon; Shanthi P. Ramnath; Patricia K. Tong | |
| 发表日期 | 2019-02-25 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We study the effects of the Social Security survivors benefits program on household labor supply and the efficiency implications for insurance and credit markets. We use U.S. population tax records and exploit a sharp age discontinuity in benefit eligibility for identification. We find that eligibility induces considerable reductions in labor supply both among newly-widowed households in the immediate post-shock periods and among already-widowed households whose benefit receipt is entirely predictable. The evidence points to liquidity constraints, rather than myopia, as a leading operative mechanism underlying household responses to anticipated benefits. Our findings identify important inefficiencies in the life insurance market and in the allocation of credit. Our results further highlight the protective insurance role of the social program and the importance of liquidity provided by the government, and they suggest potential gains from expanding and smoothing the program’s benefit schedule. |
| 主题 | Microeconomics ; Households and Firms ; Welfare and Collective Choice ; Financial Economics ; Financial Institutions ; Public Economics ; National Fiscal Issues ; Health, Education, and Welfare ; Health ; Poverty and Wellbeing |
| URL | https://www.nber.org/papers/w25586 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583260 |
| 推荐引用方式 GB/T 7714 | Itzik Fadlon,Shanthi P. Ramnath,Patricia K. Tong. Market Inefficiency and Household Labor Supply: Evidence from Social Security\u2019s Survivors Benefits. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25586.pdf（1053KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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