incomplete markets model and find that advance information reduces households' income forecast errors by 15%. Our estimation …

wherin a state s representative individual may choose to marry in order to diversify his or her idiosyncratic income risk … undiversifiable risk becomes larger, and when a state s initial income and growth rate is lower. A test of the model s predictions …, using cross-sectional data for the 50 U.S. states, suggests that there is broad support for a risk sharing motive for …

-level data from the US, we find that the degree of bilateral consumption risk sharing decreases with geographic distance. To … risk sharing which are subject to frictions that covary with distance. Calibrated to the US data, the model not only …

wherein a state's representative individual may choose to marry in order to diversity his or her idiosyncratic income risk … undiversifiable risk becomes larger, and when a state's initial income and growth rate is lower. A test of the model's predictious …, using cross - sectional data for the 50 U.S. states, suggests that there is broad support for a risk sharing motive for …

wherin a state's representative individual may choose to marry in order to diversify his or her idiosyncratic income risk … undiversifiable risk becomes larger, and when a state's initial income and growth rate is lower. A test of the model's predictions …, using cross-sectional data for the 50 U.S. states, suggests that there is broad support for a risk sharing motive for …