Social mobility is associated with opportunities, justice, equality, and well-being. Therefore, perceiving society as highly mobile is often presumed to have only beneficial outcomes for individuals. Departing from this account, we investigated a potential undesired effect of consumers’ social...

This paper examines how digital finance development affects household risk sharing in China. We provide convincing evidence that households that experience idiosyncratic negative shocks on income growth exhibit a disproportionally lower level of reduction in idiosyncratic consumption growth in...