heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income …

This paper assesses the accuracy of decomposing income risk into permanent and transitory components using income and … that this approximation can provide a robust method for decomposing income risk. The availability of asset data enables the …

heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income …