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DTSTART;TZID=Europe/Helsinki:20230523T121500
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SUMMARY:Arthur SEIBOLD (Mannheim University) - " Privatizing Disability Insurance "
DESCRIPTION:Applied Micro Seminar : Every Tuesday \nTime: 12:15 pm – 13:30 pm\nDate: 23th of May\nRoom : 3001 \nArthur SEIBOLD (Mannheim University) – ” Privatizing Disability Insurance “ \nAbstract : \nPublic disability insurance (DI) programs in many countries face pressure to reduce their generosity in order to remain sustainable. In this paper\, we investigate the welfare effects of giving a larger role to private insurance markets in the face of public DI cuts. Exploiting a unique reform that abolished one part of the German public DI system for younger workers\, we find that despite significant crowding-in effects\, overall private DI take-up remains modest. We do not find any evidence of adverse selection on unpriced risk. On the contrary\, private DI tends to be concentrated among high-income\, high-education and low-risk individuals. Using a revealed preferences approach\, we estimate individual DI valuations\, a key input for welfare calculations. We find that observed willingness-to-pay of many individuals is low\, such that providing DI partly via a private insurance market with choice improves welfare. However\, we show that distributional concerns as well as individual risk misperceptions can provide grounds for justifying a full public DI mandate. \n  \nOrganizers:\nBenoît SCHMUTZ (Pôle d’économie du CREST)\nRoland RATHELOT (Pôle d’économie du CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/arthur-seibold-privatizing-disability-insurance/
CATEGORIES:Applied Seminar,Economics,Microeconometrics,Seminars
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