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 …

Was the increase in income inequality in the US due to permanent shocks or merely to anincrease in the variance of … lifecyclechanges, transitory and permanent shocks and estimate the contribution of each tototal inequality... …

decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth …

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 …

in the evolution of life-cycle inequality? In this paper, we use rich Norwegian data to answer these important questions …'s income matters less for the dynamics of inequality over the life-cycle …

-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 …

This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance …