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 …

uncertainty of remittance income inflows affects the accumulation of human, physical and financial assets of Mexican households … income hypothesis and theories of precautionary saving, a one standard deviation increase in the uncertainty of remittance … income raises the likelihood of household spending on asset accumulation by about 2 percentage points while raising the share …

The existing literature suggests that when the saving decision of two-earner households under risk is analysed …, standard assumptions suffice for precautionary saving to exist under increases in risk of the first and second orders, but not …

The intergenerational elasticity of income is considered one of the best measures of the degree to which a society … the intergenerational elasticity of income. The model clarifies how the interaction between private and collective … elasticity of income are not particularly informative about fairness without taking into account differences in politico …

In this paper, we empirically assess the causal relationship between trade and individual income risk and study the … from 1976 to 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry … exports (per worker) are strongly and causally related to income risk: Imports increase risk and exports decrease risk, and …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare …

We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … independent of the social welfare function and determined by the degree of income risk and risk aversion. The optimal linear … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is …

Minimum wages alter the allocation of firm-idiosyncratic risk across workers. To establish this result, we focus on …