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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/20178| Title: | Option value and dynamic programming model estimates of social security disability insurance application timing |
| Keywords: | H55 H31 ddc:330 Social Security Disability Insurance Health and Retirement Survey option value dynamic programming Erwerbsunfähigkeitsrente Altersgrenze Arbeitsangebot Dynamische Optimierung Realoption Schätzung Vereinigte Staaten |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | This paper develops dynamic structural models - an option value model and a dynamic programming model - of the Social Security Disability Insurance (SSDI) application timing decision. We estimate the time to application from the point at which a health condition first begins to affect the kind or amount of work that a currently employed person can do. We use Health and Retirement Study (HRS) and restricted access Social Security earnings data for estimation. Based on tests of both in-sample and out-of-sample predictive accuracy, our option value model performs better than both our dynamic programming model and our reduced form hazard model. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/20178 |
| Other Identifiers: | http://hdl.handle.net/10419/20178 ppn:374503087 |
| Appears in Collections: | EconStor |
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