contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …

-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 …

decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth … the 1980s and the early 1990s. -- income risk ; consumption ; nonstationarity ; inequality …

account for the life-cycle variation of life-insurance holdings, financial wealth, earnings, and consumption inequality … due to the limited pledgeability of human capital. We show analytically that, consistent with the life insurance data, in … insurance. …

with no paternal shock. In contrast, there was a negligible insurance response for mothers with no employment protection. …

Since Aristotle, a vast literature has suggested that economic inequality has important political consequences. Higher … inequality is thought to increase demand for government income redistribution in democracies and to discourage democratization … how high inequality is, how it has been changing, and where they fit in the income distribution. Using a variety of large …