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 …

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 …

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 …

incompleteness, which requires that an insurance market for employment be put in operation to "complete" the market. …The purpose of this note is to describe the lottery- and insurance-market equilibrium in an economy with non …-convex labor supply decision, unobservable effort, and incentive ("fair") wages. The presence of indivisible labor creates a market …