earnings deter risk-averse individuals. In this paper I analyse the expected value and variance of income in self …Which role do individual income prospects play in the decision to be an entrepreneur rather than an employee? In a …-employment entry and exit under risk are estimated, which include a standard risk aversion parameter. The model predicts that the …

We study the effect of permanent income innovations on health for a prime-aged population. Using information on more … aggregate data by date-of-birth cohort to construct a ’synthetic cohort’ dataset with details of income, expenditure, socio …-demographic factors, health outcomes and selected risk factors. We then exploit structural and arguably exogenous changes in cohort …

Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

model incorporating England's and China's distinct pre-modern risk-sharing institutions. The model predicts a transition in … England and not China even with equal levels of risk sharing. Under the clan-based Chinese institution, the relatively risk …We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …

trennten: die politische Geschichte und die Sozialgeschichte, die Geschichte des Rechts und die der Gesellschaft. Für ihn waren …

more income elastic than public goods, as we document in the paper, an increase in income endogenously leads to smaller …