-running index-based livestock insurance contract in Northern Kenya. We show that compared to the currently employed administrative …

household utility and benefits of eliminating idiosyncratic shocks related to the business cycle as 3.4% of utility. Estimates … the business cycle, estimate the negative skewness of shocks, target moments of idiosyncratic shocks from household … insuring idiosyncratic shocks unrelated to the business cycle, such as the death of a household's prime wage earner and job …

greater financial fragility among lower-income earners. We also construct a new county-level uncertainty shock and find that …

To what extent does household inequality affect the response of aggregate consumption to aggregate real shocks? We … first review two state-of-the-art papers with household heterogeneity and aggregate uncertainty. They teach us that having a … drop in aggregate consumption in response to a negative aggregate real shock. We then move on to the Panel Study of Income …

We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects …. We find that, following a negative wealth shock, innovative workers become less productive, and generate lower economic …

We consider the life cycle choices of a household that in each period decides how much to consume and how to allocate … transitory and permanent wage shocks. These structural parameters describe the ability of household to self-insure in response to …

The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity … amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First …, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption and wealth …

-making processes across households (the "why"). The combination of the quantitative estimation of household response dynamics with a … qualitative exploration of the mental models employed during financial decisions provides a more complete view of household … are significantly higher immediately following an income shock and diminish over time, with cumulative MPCs over a year …

with information on the reallocation of resources within, from, and to the household sector in response to macroeconomic … events. The household sector is both a propagator of shocks to the economy, as wealth is redistributed across households with … of information on household exposures to macroeconomic risk factors - can potentially lead to better macroeconomic …