response. By combining this marginal spending share on durables with an average spending share of 14%, we estimate the annual … depreciation rate of durables in China to be 0.16. …

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 …

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

wherein 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 …

Hypothetical questions were used with 252 students at two universities to elicit values of relative risk aversion and … of the elasticity of marginal utility with respect to consumption. Conceptually, the magnitude of these two utility … significantly higher risk aversion than males, but there was no difference in the elasticity. Implications for financial decisions …

income risk matters substantially for consumption …We measure the extent of consumption insurance to income shocks accounting for high-order moments of the income … distribution. We derive a nonlinear consumption function, in which the extent of insurance varies with the sign and magnitude of …

Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction … generates saving dynamics such that the stationary distribution of wealth among households facing different risk levels is not …