contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … Italian households do not have access to significant insurance beyond self-insurance. …

changes in disposable income around the country's financial crisis in 2008, to plot the life-cycle path of consumption and … income for different education groups and to estimate the level of consumption smoothing. We split households into three … educated engage in more consumption smoothing than those without a university degree. We also construct a measure for marginal …

This paper focuses on whether households facing economic scarcity tend to change consumption priorities as measured by … feast-related goods, indicating a "feast and famine" consumption strategy. Nevertheless, spending on food with label claims …

reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always … productivity, to a Marxian zone where they paradoxically decline with productivity. This is because as consumption of a given good … increases, the price elasticity of demand falls, and markups increase to infinity as consumption reaches the unit elasticity …

provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

This paper estimates a reduced-form model to assess the credit risk of General Insurance (GI) non-life firms in the UK … insurance firms. The implications of these findings for regulators of GI firms under the coming Solvency II are discussed. …