In a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal … (overinvestment) in education due to risk. Education policy unambiguously allows for more social insurance if education is a risky … activity. However, if education hedges against labor market risk, optimal tax rates could be lower than without education …

populated by a large number of long-lived, risk-averse households with homothetic preferences who can invest in risk … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 …

In higher education, pure credit market funding leads to underinvestment due to insufficient risk pooling, while pure …

This paper studies the mechanisms and the extent to which parental wage risk passes through to children's skill … not work at all, time spent with children, and child-related expenditures, we find that income risk impacts skill … childhood is hard-as available evidence suggests-uninsurable income risk can negatively impact the labor market prospects of …

this literature by examining how such cross-effects on well-being are mediated by a workers' perceived risk of job loss and … protection for permanent workers is positively related to fixed-term workers' perceived risk of job loss. We do find some …

We examine the effects of World Uncertainty and Geopolitical Risk on Trade flows for 31 European economies between 1995 …). Our findings reveal that European nations primarily respond to global uncertainty by concentrating their exports and … uncertainty is driven by low-income countries. Moreover, there is a stronger relationship between imports and global uncertainty …

We estimate a nonlinear VAR to quantify the impact of economic policy uncertainty shocks originating in the US on the … in Canada is shown to react to uncertainty shocks in economic busts only. Such shocks explain about 13% of the variance … booms. Counterfactual simulations lead to the identification of a novel "economic policy uncertainty spillovers channel …

increase in economic policy uncertainty on unemployment in recessions and expansions. We find the response of unemployment to …

Using data from the World Uncertainty, World Trade Uncertainty, and World Pandemic Uncertainty indices for 142 … countries, this paper introduces three new indicators for measuring uncertainty in Turkey's export markets from the first … quarter of 1996 to the first quarter of 2020. The indicators measure uncertainty in Turkey's export destinations. After …