category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from … households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach - termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset …

social programs, savings and the labor supplies of all adult household members. The optimal policy mix focuses mainly on … Social Assistance, which provides a permanent universal household income floor, with a minor role for temporary earnings …-related Unemployment Insurance. Reflecting that married couples obtain intra-household insurance by making labor supply choices for both …

We show that household heads with a strong internal economic locus of control are more likely to hold equity and hold a … this relation is driven by a link between internal economic locus of control and a lower perception of the risk of …

take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is … strongly associated with optimism, a stable facet of personality and that it predicts real-life risk taking. The general risk … question captures this disposition alongside pure risk preference. This enlightens why the general risk question is a better …

lifetime earnings risk. Based on a dynamic life-cycle model, we find that redistribution through the tax-and -transfer system … risk. Progressive taxation of annual earnings provides little insurance against lifetime earnings risk. The lifetime …

This paper develops a pseudo-panel approach to examine household electricity demand behavior through the household life … electricity consumption follows an inverted U-shaped distribution as a function of the age of the household's head. Most notably … outcome has important implications for policy-making. Any public policy aimed at reducing household energy consumption should …

household-level wage innovations. We draw our inference from household panel data sets for the US, the UK, and Germany. First …, we find that household characteristics explain about 25% of the dispersion in wages within an age group in all three … countries. Second, the cross-sectional variance of wages is almost linearly increasing in household age in all three countries …

heterogeneous income profiles. -- Consumption ; inequality ; risk ; incomplete markets ; heterogeneity …

We study workers' idiosyncratic earnings risk over the life-cycle using a German administrative data set. Positive and … incomplete markets model. Moreover, age-varying risk implies a linear increase in consumption inequality late in working life. …