This paper evaluates the effects of parental income volatility on children’s entrepreneurial decisions in Sweden. We first show that individuals who experience higher uninsurable parental income volatility during adolescence are more likely to become entrepreneurs. A one-standard deviation...

The general purpose of this literature review is to assess the related varying point of view on how money circulates in the household sector. The study of household income, as the fundamental component of the economic sector, recognizes its significant influence on the circular flow of income....

Using a panel from the Russian Longitudinal Monitoring Survey (1994–2004), this paper investigates to what extent Russian households have been able to maintain their living standards while suffering income shocks. Consumption smoothing is modelled by means of an equilibrium correction...