I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest …

: homeownership. The 1999 rise in the French Delalande tax on firms that laid off older workers produced an unexpected exogenous rise …

important source of consumption risk as two thirds of households are involved in some level of agricultural production. For … South Africa, we focus on labor market risk proxied by transitions from formal employment to informal work or unemployment …

Risk Neutral Constant Elasticity (RINCE) preferences and obtained a closed-form solution in the presence of idiosyncratic … risk for income and investment return. His solution, however, implicitly assumes that the natural borrowing limit never …

To effectively cope with an unexpected, large, and negative income shock, I propose a life-cycle model for income risk … generalizing the Arrow-Debreu price with income risk premium …

We provide a microeconomic analysis of the incentive and welfare effects of idiosyncratic return risk. While most of … rate separates savers from borrowers. At the intensive margin, we identify restrictions on the agent's risk preferences for …

The consensus among scholars is that (some) longevity risk pooling is the optimal strategy for drawing down wealth in … some closed-form expressions for the value of longevity risk pooling with fixed life annuities under constant relative risk … attention from actuarial researchers. Our paper offers tools to explain the value of longevity risk pooling …