Search

Premature death of a breadwinner can have devastating financial consequences on surviving dependents. This study investigates the role of life insurance in mitigating the long‐run financial consequences of spousal mortality. Using the Health and Retirement Study, we examine individuals whose spouses died during or soon after his or her peak earnings years. After controlling for socioeconomic status, we find that sizable lump‐sum life insurance payouts do not significantly influence spousal well‐being. (JEL D31, G22, I31, J32, J33, J38) [ABSTRACT FROM AUTHOR]

Health insurance reform in Massachusetts lowered the cost of both pregnancy (by increased coverage of pregnancy-related medical events) and pregnancy prevention (by increasing access to reliable contraception). We empirically examine fertility responses and find no overall effect from increased coverage due to the Massachusetts reform. This finding, however, masks substantial heterogeneity. For married women aged 20 to 34-with high latent fertility and pregnancy wantedness-fertility increased by approximately 1%. For unmarried women in the same age range-for whom pregnancies are typically unwanted-fertility declined by 8%. ( JEL I13, I18, J13) [ABSTRACT FROM AUTHOR]