sector as might be expected. The asset covariance and the labor risk correlation, especially the working location of the …. Moreover, a effective hedge for the income risk is not possible in most of the observed scenarios. -- Protection ; Portfolio … Choice ; Risk Diversication ; Income Risk …

with human capital and constant risk aversion, the portfolio responses to these two wealth shocks should be of equal … magnitude and opposite sign. The positive net effect in the data is evidence for risk aversion that decreases in total wealth. I … matches the reduced-form estimates with a significant degree of non-homotheticity in risk preferences, such that a 10 …

guarantees could also amplify a moral hazard problem that induces large banks to take excessive risk. If such risk is mispriced …

market fluctuations affect the risk tolerance of households. We used the 1992 to 2013 datasets of the Survey of Consumer … Finances (SCF), and found that whether respondents were willing to take some risk varied somewhat during the period, with … proportion of respondents willing to take substantial or above average investment risk (“high risk tolerance”) fluctuated much …