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 …

This paper establishes new evidence on the cyclical behaviour of household income risk in Great Britain and assesses …. We then estimate how income risk, measured by the variance and the skewness of the probability distribution of shocks to … the role of social insurance policy in mitigating against this risk. We address these issues using the British Household …

perceptions of intergenerational mobility change along the income distribution. Empirically, we conduct a survey experiment in … Austria and show that the average treatment effect of information on perceptions is mostly driven by higher income individuals … while low-income respondents hardly react. We replicate this result for the United States and Germany using data from two …

-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 …

panel GMM system estimation we find positive effects of innovation on employment. This result is robust to the use of …