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 …

reinsurers, which are less regulated and unrated off-balance-sheet entities within the same insurance group. U.S. life insurance … using shadow insurance, which capture half of the market share, ceded 25 cents of every dollar insured to shadow reinsurers … in 2012, up from 2 cents in 2002. By relaxing capital requirements, shadow insurance could reduce the marginal cost of …

compared to the after-tax return on an alternative portfolio of similar risk, more than 60%of the decline in life insurance …-tial.Both the existence and importance of this result depend on the characteristics of life insurance savings. Life insurance saving … is intimately connected to life insurance coverage and therefore is long-term and quasi-contractual in nature …

One goal of government health insurance programs is to improve health, yet little is known empirically about how … major health insurance expansion in Costa Rica. In contrast to previous work in this area that has used aggregated … indicate that aggregation can introduce substantial upward biases in the insurance effects. Overall we find a statistically …