can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … respondent has a formal funeral cover increases with income and banking status. However, it is lower for individuals receiving … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover …

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without …. Efforts to close this insurance gap include the introduction of parametric (index) insurance products for various catastrophic … risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information …

, and climate change is predicted to intensify this problem. The Index-Based Livestock Insurance (IBLI) scheme piloted in …

the Swedish income tax schedule. Using population-wide register data from the Swedish military enlistment and …

-shaped consumption age profiles. The main driver behind lifecycle consumption variations are lifecycle income changes, which display … similar flattening. Employing a lifecycle model we show changes in income are sufficient to match the movements in consumption …

We develop and estimate a model of jointly optimal income taxes for different types of income. Compared to standard … optimal tax formulas, optimal schedular income tax rates additionally depend on cross-elasticities between tax bases capturing … fiscal externalities. We discuss two applications: the taxation of different income sources such as labor or capital income …

proportion of income) also decline by almost the same amount, suggesting shared understanding that is characteristic of social …

This paper draws on household survey data from countries of all income levels to measure how average unemployment rates … vary with income per capita. We document that unemployment is increasing with GDP per capita. Furthermore, we show that … per capita, rather than by high-educated workers, whose unemployment rates are not correlated with income. To interpret …

uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to … capital income risk, we solve for the optimal consumption-saving choices and show that the expected welfare is increasing with … households would pay more attention to capital income risk if they have (i) lower initial wealth endowment, (ii) lower marginal …

We study the optimal design of student financial aid as a function of parental income. We derive optimal financial aid …, labor supply in college, and uncertain returns. Optimal financial aid is strongly declining in parental income even without …