fertility and transfers dampen intergenerational mobility. To evaluate the quantitative importance of this mechanism, we extend … the standard heterogeneous agent life cycle model with earnings risk and credit constraints to allow for endogenous … fertility, family transfers, and education. The model, estimated to the US in the 2000s, implies that a counterfactual flat …

medical-expense risk are crucial determinants of savings and wealth inequality and that we need to look at more data to …

composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …