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Human Capital Risk, Contract Enforcement, and the Macroeconomy

Krebs, Tom - 2011

We develop a macroeconomic model with physical and human capital, human capital risk, and limited contract enforcement. We show analytically that young (high-return) households are the most exposed to human capital risk and are also the least insured. We document this risk-insurance pattern in...

Persistent link: https://www.econbiz.de/10013117121

Financially Fragile Households : Evidence and Implications

Lusardi, Annamaria - 2011

, especially for some subgroups. Household finance researchers must look beyond precautionary savings to understand how families …

Persistent link: https://www.econbiz.de/10013124829

Optimal Portfolio Choice with Wage-Indexed Social Security

Li, Jialun - 2011

This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky …

Persistent link: https://www.econbiz.de/10013125573

Bankruptcy as Implicit Health Insurance

Mahoney, Neale - 2012

This paper examines the implicit health insurance households receive from the ability to declare bankruptcy. Exploiting cross-state and within-state variation in asset exemption law, I show that uninsured households with greater seizable assets make higher out-of-pocket medical payments,...

Persistent link: https://www.econbiz.de/10013106077

Nonlinear Household Earnings Dynamics, Self-Insurance, and Welfare

De Nardi, Mariacristina - 2018

individual-pre-tax and household-post-tax earnings and across administrative (Social Security Administration) and survey (Panel … Study of Income Dynamics) data. We estimate two alternative processes for household after-tax earnings and study their …

Persistent link: https://www.econbiz.de/10012927027

Income Uncertainty and Household Savings in China

Chamon, Marcos - 2015

China's household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U … accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains … that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings …

Persistent link: https://www.econbiz.de/10013038407

Expectations Uncertainty and Household Economic Behavior

Ben-David, Itzhak - 2018

We show that there exists significant heterogeneity across US households in how uncertain they are in their expectations regarding personal and macroeconomic outcomes, and that uncertainty in expectations predicts households' choices. Individuals with lower income or education, more precarious...

Persistent link: https://www.econbiz.de/10012906788

Perception of House Price Risk and Homeownership

Adelino, Manuel - 2018

This paper analyzes the importance of household perceptions of house price risk in explaining homeownership choice …

Persistent link: https://www.econbiz.de/10012910636

Heterogeneous Households Under Uncertainty

Veronesi, Pietro - 2019

I characterize a dynamic economy under general distributions of households' risk tolerance, endowments, and beliefs about long-term growth. As the economy expands and the stock market rises (a) the fraction of households with declining consumption-share increases; (b) the wealth-share of high...

Persistent link: https://www.econbiz.de/10012894994

Contraception and Fertility : Household Production Under Uncertainty

Michael, Robert T. - 2010

Over the past century fertility behavior in the United Stated has undergone profound changes Measured by cohort fertility the average number of children per married woman had declined from about 5.5 children at the time of the Civil War to 2.4 children at the time of the Great Depression. It is...

Persistent link: https://www.econbiz.de/10012763230