use of a more accurate approximation allowing for partial self-insurance against permanent shocks. We show that the use of … data on median asset holdings corrects much of the error in the simple approximation which assumes no self-insurance …

growth. We use this approach to investigate the growth in income inequality in the UK in the 1980s. …

decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth …

-free physical capital and risky human capital. Households have access to a complete set of credit and insurance contracts, but their … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 … parameters have non-negligible effects on equilibrium insurance and welfare, but the result that young households are severely …

-free physical capital and risky human capital. Households have access to a complete set of credit and insurance contracts, but their … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 … parameters have non-negligible effects on equilibrium insurance and welfare, but the result that young households are severely …