Disability and Distress: The Effect of Disability Programs on Financial Outcomes
研究了残疾项目与财务困境的关系，发现残疾津贴使破产概率降低20%、丧失抵押品赎回权概率降低33%、房屋出售概率降低15%，表明残疾项目能有效缓解财务压力。
What is the relationship between disability programs and financial distress? We provide the first evidence on this relationship using several markers of financial distress: bankruptcy, foreclosure, eviction, and home sale. Rates of these adverse financial events peak around the time of disability application. Using variation induced by an age-based eligibility rule, we find that disability allowance reduces the likelihood of bankruptcy by 20 percent, foreclosure by 33 percent, and home sale by 15 percent. We present evidence that these changes reflect true reductions in financial distress. Considering these extreme events increases the optimal disability benefit amount and suggests a shorter optimal waiting time between application and benefit receipt.