Why do some U.S. states have higher levels of marital formation than others? This paper introduces an economic model wherein a state's representative individual may choose to marry in order to diversity his or her idiosyncratic income risk. The paper demonstrates that such a diversification...

Why do some U.S. states have higher levels of marital formation than others? This paper introduces an economic model wherin a state s representative individual may choose to marry in order to diversify his or her idiosyncratic income risk. The paper demonstrates that such a diversification...

Why do some U.S. states have higher levels of marital formation than others? This paper introduces an economic model wherein a state's representative individual may choose to marry in order to diversity his or her idiosyncratic income risk. The paper demonstrates that such a diversification...

This paper reviews three important issues in the literature on international and intranational risk sharing. First, we establish a comprehensive set of stylized facts for consumption risk sharing within and across countries. Consistent with the findings in the literature, we find that the...