-commerce firm's fulfillment centers reduces traditional retail workers' income in geographically proximate counties by 2.4%. Wages … (employment) at proximate stores decrease by 4% (2.1%). Exits, especially of young and small stores, increase, and entry decreases …

greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …This paper argues that rigid wages cannot provide the underpinnings of a universally valid theory of the business cycle …, simply because wages are not universally rigid. Several different statistical techniques suggest that wage rates in the U …

of STEM worker growth on the wages and employment of college and non-college educated native workers in 219 U.S. cities … workers in a city were associated with significant increases in wages paid to college educated natives. Wage increases for non …-college educated natives are smaller but still significant. We do not find significant effects on employment. We also find that STEM …

Theoretically, wealthier people should buy less insurance, and should self-insure through saving instead, as insurance … wealthier have better life and property insurance coverage. Wealth-related differences in background risk, legal risk, liquidity … constraints, financial literacy, and pricing explain only a small fraction of the positive wealth-insurance correlation. This …

Insurers are the largest institutional investors of corporate bonds. However, a standard theory of insurance markets …

This paper examines the role that insurance has played in dealing with terrorism before and after September 11, 2001 …, by focusing on the distinctive challenges associated with terrorism as a catastrophic risk. The Terrorism Risk Insurance … Act of 2002 (TRIA) was passed by the U.S. Congress in November 2002, establishing a national terrorism insurance program …

We analyze the value of insurance when individuals have access to credit markets. Loans allow consumers to smooth … financial shocks over time, decreasing the value of consumption smoothing from insurance. We derive formulas for the value of … insurance that can be taken to data, and show how that value depends on individual characteristics and features of loans. We …

A rent guarantee insurance (RGI) policy makes a limited number of rent payments to the landlord on behalf of an insured … tenant unable to pay rent due to a negative income or health expenditure shock. We introduce RGI in a rich quantitative … society. While unrestricted access is not financially viable with either private or public insurance providers due to moral …