Various tax policies provide consumers with forms of insurance. Social security has the payoff characteristics of an … annuity. The income tax provides consumers with a degree of Income insurance because the government shares part of the … effects of these and other tax policies are shown to depend crucially on the nature of existing private insurance arrangements …

Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise … second moments of the joint distribution over individual wages, consumption and hours …

of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and … consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage …-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired …

hedge funds, banks, brokers, and insurance companies based on principal components analysis and Granger-causality tests. We … the finance and insurance industries. These measures can also identify and quantify financial crisis periods, and seem to …, banks, insurance companies, and brokers …

rate among these children. Because not all of the take-up of public insurance among eligible children is accounted for by … children who transfer from being uninsured to having public insurance, our results suggest that there may be some crowd-out of … private insurance coverage; the upper bound crowd-out rate we calculate is 46 percent …

least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …. A calibrated version of the model can quantitatively account for the life-cycle variation of insurance observed in the … US data and implies welfare costs of under-insurance for young households that are equivalent to a 4 percent reduction in …

Across a wide set of non-group insurance markets, applicants are rejected based on observable, often high …, disability, and life insurance. Consistent with the predictions of the theory, in all three settings I find significant amounts … be rejected relative to those who can purchase insurance; and I show it is enough private information to explain a …

causal estimates of the effects of decreased generosity of disability insurance (DI) on behavior of existing DI recipients …

market. We show that insurance companies, the largest institutional holders of corporate bonds, reach for yield in choosing … their investments. Consistent with lower rated bonds bearing higher capital requirement, insurance firms' prefer to hold … higher rated bonds. However, conditional on credit ratings, insurance portfolios are systematically biased toward higher …