households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach - termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …

We analyze the impact of an increase in the risk of divorce on the saving behaviour of married couples. From a … experience a significant increase in the expected risk of divorce (such as very religious families, or single individuals). Our … results suggest that the increase in the risk of divorce brought about by the law was followed by an increase in the …

households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints …

different groups are exposed to economic risk. As the ESI derives from a data-independent conceptual foundation, it can be …

this relation is driven by a link between internal economic locus of control and a lower perception of the risk of …

This paper argues that the level of financial services provision determines the risk management strategies among the … increases with rising self perception towards risk. Further, we find that it depends highly on the type of risk, if a household …