medical insurance. We find that both the level and the shape of the distribution of risk are important in determining the … equilibrium quantity of insurance. Symmetric changes in risk (e.g., shifts in the price of medical care) better explain the … shifting insurance rate over time. Asymmetric changes (e.g., associated with a shifting age distribution) are not as important. …

marriage as well as for a precautionary attitude towards risk. - Consumption Insurance ; Marriage …

of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and … consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage …-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired …