medical-expense risk are crucial determinants of savings and wealth inequality and that we need to look at more data to … evaluate the consequences of policy reform. This paper surveys the savings mechanisms generated by the transmission of bequests …

This paper shows how uninsurable unemployment risk is crucial to qualitatively and quantitatively match macro responses … behaviors, triggering a fall in aggregate demand and supply. These precautionary behaviors increase the unemployment risk of the … imperfectly insured households, who strengthen precautionary saving. When the feedback loop between unemployment risk and …

"We study optimal labor and savings distortions in a lifecycle model with idiosyncratic shocks. We show a tight …-based expressions for the dynamic optimal distortions. We derive a generalization of a savings distortion for non-separable preferences …