combining data from multiple surveys, we create an integrated measure of volatility in available household resources, accounting … different groups are exposed to economic risk. As the ESI derives from a data-independent conceptual foundation, it can be …

model incorporating England's and China's distinct pre-modern risk-sharing institutions. The model predicts a transition in … England and not China even with equal levels of risk sharing. Under the clan-based Chinese institution, the relatively risk …We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …

What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …

achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …

exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …

in the type of degree studied can explain an additional 8.4% of the male-female pay gap. Risk-augmented earnings …

We study household decision making in a high-stakes experiment with a random sample of households in rural China …. Spouses have to choose between risky lotteries, first separately and then jointly. We find that spouses' individual risk …

We study household decision making in a high-stakes experiment with a random sample of households in rural China …. Spouses have to choose between risky lotteries, first separately and then jointly. We find that spouses' individual risk …