: financial risk and environmental risk. The analysis is carried out using time series data for six advanced economies in the … period 1965-2007. The results support the theoretical conclusions that both financial risk alone and the interaction between … empirical analysis performed with one-argument utility functions. Finally, we provide new estimates of indexes of relative risk …

dividends next period as ambiguous. We calibrate the agent's ambiguity aversion to match only the first moment of the risk …

; Collateral ; Income risk ; Bankruptcy …. Furthermore, we establish two quantitative results. Firstly, modest levels of risk aversion are necessary to match observed debt …

search model with (i) precautionary savings, (ii) work opportunities in paid- and self-employment, (iii) skill heterogeneity …

countries between 1963 and 2012. In line with predictions from theory, this paper finds that lower dependency rates and greater …

and how these might influence aggregate savings and wealth inequality. This paper aims to fill that gap by examining both …

contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information …