Efforts to reconcile inconsistencies between theory and estimates of the income elasticity of the value of a … how exogenous income shocks, such as unexpected medical expenditures, may affect labor supply decisions which in turn … influence both the coefficient of relative risk aversion and the IEVSL. The presence of a consumption commitment, such as a home …

Efforts to reconcile inconsistencies between theory and estimates of the income elasticity of the value of a … how exogenous income shocks, such as unexpected medical expenditures, may affect labor supply decisions which in turn … influence both the coefficient of relative risk aversion and the IEVSL. The presence of a consumption commitment, such as a home …

heterogeneity in this effect across socio-demographic groups. The effect is also stronger for individuals with a higher risk …

This paper analyzes the impact of subjective mortality risk on consumption and labor choice in a life cycle model … significant and consistent with what is predicted by theory. This result differs from other studies that find that the IES is not … beliefs on intertemporal labor supply. In the absence of mortality risk, individuals at the end of their working years are …

utility model. I derive a formula for the coefficient of relative risk aversion (g) in terms of (1) the ratio of the income …This paper shows that existing evidence on labor supply behavior places an upper bound on risk aversion in the expected …