We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on … insurable within extended family networks. However, we find little evidence that the extended family provides insurance for such … decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each …

, the age profile of the insurance coefficient is sharply increasing, whereas BPP find no clear age slope in their estimate … estimator of the true insurance coefficient has, in general, a downward bias that grows as borrowing limits become tighter …

are significantly higher immediately following an income shock and diminish over time, with cumulative MPCs over a year …This paper studies how and why households adjust their spending, saving, and borrowing in response to transitory income …

accumulation in which households face idiosyncratic income risk and cannot commit to repay their debt. Therefore, even though a … equilibrium features imperfect insurance and a non-degenerate cross-sectional consumption distribution. When household labor … which limits to consumption insurance emerge endogenously due to limited commitment …

for middle and high income groups, but interestingly, it encourages asset accumulation among low income groups because it …

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

I introduce money into an incomplete markets model with heterogeneous agents and uninsurable income risk. I show that … the model exhibits both non-monetary and monetary equilibria, with the latter existing when income risk is sufficiently …

-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired … extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the … of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and …

others is beneficial solely because the costs of household public goods can be shared. In other words, we abstract from intra-family … relations and focus on households as collections of roommates. The model's mechanism is that rising income leads to a falling … size, consumption patterns, and income in the cross-section at the end of the 20th century. We then project the model back …

occupational prestige is explained almost entirely by shared education, and sibling resemblance in family income is explained … other socioeconomic outcomes. Second, across the life course, siblings converge in earnings and income and maintain stable … earnings and income than nonblack siblings overall, but black siblings dramatically converge in income across the life course …