G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w26103
来源IDWorking Paper 26103
The Demand for Insurance and Rationale for a Mandate: Evidence from Workers\u2019 Compensation Insurance
Marika Cabral; Can Cui; Michael Dworsky
发表日期2019-07-29
出版年2019
语种英语
摘要This paper analyzes the demand for insurance and the potential rationale for coverage mandates in the context of workers’ compensation insurance. Workers’ compensation is a state-regulated insurance program that provides employers with liability protection and employees with defined income and medical benefits in the event of work-related injuries or illnesses. Nearly all states have mandated workers’ compensation insurance coverage; the sole exception is Texas. Using administrative data from the unique voluntary Texas workers’ compensation insurance system, we estimate the demand for workers’ compensation insurance leveraging idiosyncratic regulatory updates to relative premiums across industry-occupation classifications. The difference-in-differences estimates indicate that the demand for workers’ compensation coverage is price-sensitive, with a 1% increase in premiums leading to approximately a 0.3% decline in coverage. Drawing upon these estimates and additional data on costs, we analyze potential justifications for government intervention to increase coverage through subsidies or a mandate. This analysis suggests that some common market failure justifications for government intervention in insurance markets—adverse selection, market power, and externalities—may not be compelling justifications for a mandate in this setting.
主题Public Economics ; Health, Education, and Welfare ; Health ; Labor Economics ; Labor Compensation
URLhttps://www.nber.org/papers/w26103
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/583776
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Marika Cabral,Can Cui,Michael Dworsky. The Demand for Insurance and Rationale for a Mandate: Evidence from Workers\u2019 Compensation Insurance. 2019.
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