probability of receiving large negative income shocks in contractions. We also find that while social insurance (tax …This paper establishes new evidence on the cyclical behaviour of household income risk in Great Britain and assesses … the role of social insurance policy in mitigating against this risk. We address these issues using the British Household …

the COVID-19 shock translates into a noticeable reduction in gross labor income across the entire income distribution … take appropriate income-stabilizing countermeasures. To properly design such policy measures, it is important to quantify …. However, the tax benefit system and discretionary policy responses to the crisis act as important income stabilizers, since …

decisions and intergenerational transfers are governed by self-enforcing family constitutions. We then show that first and …

We use survey evidence on reported spending in hypothetical energy price shock scenarios to study novel features of the … energy prices increase compared to price decreases. MPCs are also larger for households with low income and/or saving buffer … subsidies on energy for Belgian low-income households are much more effective in supporting non-energy consumption than the …

contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … of a permanent income shock. Compared to existing empirical estimates for the same dataset, our findings suggest that …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

income. …

-free physical capital and risky human capital. Households have access to a complete set of credit and insurance contracts, but their … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 … parameters have non-negligible effects on equilibrium insurance and welfare, but the result that young households are severely …