/dissavings (40% and 47% in 2008-2010 and 2010-2012, respectively), and within‐household risk‐sharing (16% and 14%). Interestingly …This paper aims to fill the gaps in the analysis of risk‐sharing channels at the microlevel, both within and across … households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able …

--956) test if risk sharing across households is complete in the sense that household consumption moves one-for-one with aggregate … consumption. In their studies the source of income risk is idiosyncratic, and agents can share risk across the entire economy …. Using a sample of households from the Panel Study on Income Dynamics (PSID), we explore whether households share the risk …

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that … assets. Because households are subject to more background risk than previously considered, the estimated model implies a … substantially lower coefficient of risk aversion. We also find renewed support for rule-of-thumb investment strategies under the …