BEGIN:VCALENDAR
VERSION:2.0
PRODID:https://www.diw.de/de/diw_01.c.806339.de/veranstaltungen.html
METHOD:PUBLISH
CALSCALE:GREGORIAN
BEGIN:VEVENT
UID:diw_01.c.408438.de
LOCATION:Eleanor-Dulles-Raum,DIW Berlin im Quartier 110,5.2.010,Anton-Wilhelm-Amo-Straße 58,10117 Berlin
SUMMARY:Health risks and insurance against work incapacity over the life-cycle
DESCRIPTION:12:30-13:30 // This paper proposes a structural life-cycle model to analyze the links between individuals' health, labor market participation, wealth accumulation, and early retirement. I rely on the framework of a dynamic programming discrete choice model which is estimated using data from the German Socio-Economic Panel Study. A sequential Expectation-Maximization algorithm is used to obtain good starting values for a subsequent full information maximum likelihood estimation. A policy analysis focuses on the early retirement option of the German statutory pension scheme which constitutes an insurance against work incapacity. I simulate scenarios where health shocks do or do not occur at different ages during the life-cycle for individuals with differing endowments at age 40. A comparison of expected consumption paths and net present values of expected life-cycle incomes between the scenarios sheds some light on health-related poverty risks and the magnitude of risks being uninsured by the German early retirement scheme. Furthermore, I investigate a counterfactual policy scenario where reductions on the pension benefits of early retirees are abolished for individuals who are in bad health.
DTSTART;VALUE=DATE:20121205
DTEND;VALUE=DATE:20121205
DTSTAMP:20121127T230000Z
URL:https://www.diw.de/de/diw_01.c.408438.de/veranstaltungen/health_risks_and_insurance_against_work_incapacity_over_the_life_cycle.html
ORGANIZER;CN=Patricia Gallego Granados:mailto:pgallegogranados@diw.de
END:VEVENT
END:VCALENDAR