This paper investigates the effects of risk aversion on portfolio choices in terms of life insurance purchase and risky … asset investment. The theoretical results show that households with very low degree of risk aversion allocate all of their … investments to risky assets and have little desire to buy life insurance and risk-free bonds. When the degree of risk aversion …

. They also suggest that screening and monitoring costs imply a lower sensitivity of wages to ability in larger …

whether the historical relationship between wages and unemployment has weakened and whether composition effects moderated wage … growth. The results suggest a negative answer to both questions. Wages in the EU have not stopped reacting to unemployment … the EU, especially due to increasing average age and education level. In some Member States such as Germany, Italy …