This review article examines the role of labor income risk in determining the value of a person’s human capital. We … framework, we highlight the implications of different assumptions about the correlation between market returns and labor income … to assess the value and risk of pension promises. Finally, we discuss how to enrich the environment with heterogeneity in …

We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young … 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 …

"Solon's (1992) landmark study estimated the intergenerational elasticity (IGE) in income between fathers and sons to …

past the normal retirement age. In this paper, we consider how reforms to public pension systems affect labor supply over … main conclusion is that the labor supply of older workers is responsive to changes in retirement incentives. The labor … is likely to continue to fuel the recent trend towards later retirement. This, in turn, is likely to reduce the financial …

Using data from the Health and Retirement Survey (HRS) and Assets and Health Dynamics of the Oldest Old (AHEAD), this …

a model of labor supply and retirement behavior that includes a saving decision, uncertainty, and a non …-negativity constraint on assets. Using data from the Panel Study of Income Dynamics, I estimate life cycle profiles for labor force …

higher-income retirees benefit from Medicaid, if they live long enough for their resources to be depleted by medical expenses …