المستودع الأكاديمي جامعة المدينة

Option value and dynamic programming model estimates of social security disability insurance application timing

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dc.creator Burkhauser, Richard V.
dc.creator Butler, J. S.
dc.creator Gumus, Gulcin
dc.date 2003
dc.date.accessioned 2013-10-16T07:09:13Z
dc.date.available 2013-10-16T07:09:13Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20178
dc.identifier ppn:374503087
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20178
dc.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.
dc.language eng
dc.publisher
dc.relation IZA Discussion paper series 941
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject H55
dc.subject H31
dc.subject ddc:330
dc.subject Social Security Disability Insurance
dc.subject Health and Retirement Survey
dc.subject option value
dc.subject dynamic programming
dc.subject Erwerbsunfähigkeitsrente
dc.subject Altersgrenze
dc.subject Arbeitsangebot
dc.subject Dynamische Optimierung
dc.subject Realoption
dc.subject Schätzung
dc.subject Vereinigte Staaten
dc.title Option value and dynamic programming model estimates of social security disability insurance application timing
dc.type doc-type:workingPaper


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