households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints …

We develop a new approach to the decomposition of income risk within a nonstationary model of intertemporal choice. The … approach allows for changes in income risk over the life-cycle and with the business cycle. It requires only repeated cross … decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth …

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 …

search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

This paper studies the direct impact of households' debt on consumption over the business cycle. We use household …

between 2010 and 2014 in Belgium, using panel data from the two waves of the Household Finance and Consumption Survey. Unlike …

populated by a large number of long-lived, risk-averse households with homothetic preferences who can invest in risk … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 …

study household savings and expenditure adjustment from an unexpected, large-scale and rapidly evolving political shock that …

We analyze the impact of an increase in the risk of divorce on the saving behaviour of married couples. From a … experience a significant increase in the expected risk of divorce (such as very religious families, or single individuals). Our … results suggest that the increase in the risk of divorce brought about by the law was followed by an increase in the …