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 …

-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 …

-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to …

When formal insurance is unavailable, mutual insurance among households can serve as an alternative. This paper … trigger-strategy equilibrium can be achieved. Full insurance is possible with strongly negatively correlated endowments, while … partial insurance is generally feasible. The analysis highlights environments wherein varying levels of insurance can emerge …

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 …

elastic to net post-tax real wages, and hence reduced by taxation. In a setting where preferences are isoelastic, deregulation … regulation for some goods. I provide sufficient conditions for deregulation, i.e. a general reduction in price floors, to be …

We present a theory of the demand for flood insurance and empirically analyze the effects of the adoption of Risk … Rating 2.0, using individual insurance histories for all NFIP policies. The reform increased exit and reduced entry, both in … the flood zone and its periphery. The reform had highly heterogeneous effects on insurance costs and triggered adjustments …

This high-stakes experiment investigates the effect on buyers of mandatory disclosures concerning an insurance policy … trusting plays an important role. Trust is clearly associated with greater willingness to pay for insurance. Unlike in previous … of breach is negligible. However, as for much B2C insurance marketing, face-to-face selling plays a crucial role in our …

We characterize how public insurance schemes are constrained by hidden financial transactions. When non …-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private … of insurance on unobservable effort and saving choices as well as the relative cost of public and private insurance …

patterns: entrepreneurs following an 'insurance regime' comply with sharing norms, are insured but reduce investment in their … solidarity ; informal insurance ; investment ; micro and small enterprises ; sharing ; Sub-Saharan Africa …