preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …We show how to use panel data on household consumption to directly estimate households’ risk preferences. Specifically … preferences are unrelated to wealth or other characteristics. The heterogeneity matters for policy: Although the average household …

explainable by household characteristics as well as differences in risk aversion and a remainder. We employ the unexplained part …

We examine the household consumption response to fluctuations in income and uncertainty, exploiting a large panel …, both household-specific income uncertainty and local labor market uncertainty depress consumption spending. We also find …

From standard portfolio-choice theory it is well-understood that background risk, overwhelmingly due to wage risk, is …

This paper examines how digital finance development affects household risk sharing in China. We provide convincing … household risk sharing. However, the development of traditional banking credit market does not appear to promote risk sharing. …

household consumed permanently at the poverty line. The results indicate that vulnerability is very sensitive to the time … to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the …

regression analyses controlling for age, racial/ethnic status, household composition, and other characteristics had generally … similar results to the descriptive patterns, so the changes do not seem related to changes in household composition …