"Malthusian stagnation" result. Furthermore, optimal allocations exhibit inequality, differential fertility, random consumption …

overcome the difficulty of standard models to understand consumption insurance in the US. As our main result, we find that the … quantitative relevance of advance information crucially depends on the structure of insurance markets. For a realistic amount of … key consumption insurance measures better than existing models without advance information. In contrast, when advance …

effects on economic inequality and welfare. For that purpose we built a general equilibrium heterogeneous-agent model capable … to an increase of inequality during the initial transition period, reversing to more compressed distributions as the …

inequality indicators in Chile for the period 1960-2014. The relationship between episodes of crisis and fluctuations on levels … of inequality are estimated from an event study, finding that they are related to fluctuations in inequality. In addition …, we perform econometric estimates where inequality indicators relate to different macroeconomic variables and educational …

preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …