Deep Crises and Reform: What Have We Learned? (Directions in by Michael Bruno

By Michael Bruno

This paper was once first provided as my tackle, as president, to the 1995 Congress of the overseas monetary organization in Tunis.

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Extra info for Deep Crises and Reform: What Have We Learned? (Directions in Development)

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Having children in the family unit adds more to income needs, increasing the probability of being poor or near poor by about 5 percentage points for disabled men in both 1982 and 1991. This suggests that dependents' benefits fail to fully offset the greater economic needs of families with children. S. have played an important role in sustaining the economic status of families of disabled men. Nevertheless, the families of young men with disabilities remain a disadvantaged group, relative to their nondisabled counterparts and to older disabled men.

34 This procedure understates nondisability income to the degree that a person's disability is longterm, hence reducing potential earnings for several years. We note that private market insurance is and can only be provided against actual earnings, and not against "potential" earnings. Our procedure understates nondisability income to the extent that spouses compensate for the loss of husband's earnings by increasing their own work involvement. S. disabled men Table 6. SSDI replacement rates of predisability earnings Mean Predicted Family Income Using Mean Actual Income Maximum Predisability Earnings Average Predisability Earnings Work Years 1982 Above poverty <55 55+ $30,760 $29,786 $51,220 $54,198 Near poverty <55 55+ $13,190 $12,104 Mean Replacement Rate Using Actual/Max.

5 times poverty threshold. ability insurance could be purchased. 35 This value is then added to the nonSocial Security/non-SSI income of the family and is used as the denominator in calculating a second replacement rate. ) Because the estimate of potential family income is lower in this second estimate, it provides a higher estimate of the insurance value of SSDI. These replacement rates are shown in Table 6 for three categories of families headed by disabled men-those whose actual incomes indicated that they were poor, near poor, and nonpoor-and distinguish between older and younger disabled men in these categories.

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