We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … independent of the social welfare function and determined by the degree of income risk and risk aversion. The optimal linear …

contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …

opportunity to freeride on traditional union benefits. I model membership as legal insurance whose demand increases with the … perceived risk of allegations. Using media reports on allegations against teachers as shocks to perceived risk, I find for every …

their role as an insurance devise. Results are derived for the pricing of delivery contracts subject to offset claims and …

-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate …We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that … different aversions to risk and intertemporal fluctuations, convex damages, uncertainties in economic growth, atmospheric carbon …

from space, and investigate whether insurance claim payments for damaged residential property affected the local recovery … event, more than 95% of residential housing units were covered by insurance, but insurance payments were staggered over 5 … and describe the recovery’s determinants. We also find that insurance payments contributed significantly to the process of …

fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over … whose type turns out to be high risk but low demand renew more of their GR insurance than is efficient due to the attractive …