In this paper, we examine how learning about disaster risk affects asset pricing in an endowment economy. We extend the … generates time variation in the risk premium through Bayesian updating of agents' beliefs regarding the likelihood and severity …

with bad credit status) and that this effect is more pronounced for low-income students. Furthermore, results suggest that …

We propose a novel approach to estimate household income uncertainty at various future horizons and characterize how … the estimated uncertainty evolves over the life cycle. We measure income uncertainty as the variance of linear forecast … errors conditional on information available to households prior to observing the realized income. This approach is …

There is a large literature showing that the self-employed underreport their income to tax authorities. In this paper …, we quantify the extent to which the self-employed also systematically underreport their income in U.S. household surveys …. To do so, we use the Engel curve describing the relationship between income and expenditures of wage and salary workers …