and savings decisions of singles and married couples. Partial insurance against wage and employment shocks is provided by … social programs, savings and the labor supplies of all adult household members. The optimal policy mix focuses mainly on …

. To do so, we specify a structural life-cycle model of the labor supply, savings, and social assistance claiming decisions …, savings, and the labor supplies of all adult household members. We show that the optimal policy mix is dominated by moderately …

structural life-cycle model of singles' and married couples' labor supply and savings decisions. The model includes heterogeneity …

2001-2012. We estimate dynamic labor supply equations augmented with a measure of wage risk. Our results show that married …. This implies that about 26% of precautionary savings are due to precautionary labor supply. If self-employed faced the same … wage risk as the median civil servant, their hours of work would reduce by 4%. …

We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks …-cycle model of consumption and labor supply. Both permanent wage and hours shocks are important to explain earnings risk, but wage … shocks have greater relevance. Progressive taxation strongly attenuates cross-sectional earnings risk, its life …

This paper considers the intertemporal consumption/savings decision when income follows a random walk with drift and … precautionary savings and hence to accumulate more wealth than otherwise. In a calibration exercise it is shown that for a plausible …