Do migrants send remittances as a way of obtaining insurance? While this motive is theoretically suggested in the … a "purchase of self-insurance" motive to remit, we also provide evidence of more remittances sent by risk averse …

uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify …

sensitivity and the damage ratio, and correlated shocks. We identify prudence, insurance, and exposure effects, reproduce earlier …

-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate …

I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility … and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk … transfer, but meeting a conditional need. In this way, insurance aligns the risk in one's ftnancial endowment with the risk in …

others. Relatively more risk-averse people buy insurance against aggregate risk, and relatively less risk-averse people sell … insurance. These trades reduce the welfare cost of business cycles for everyone. Indeed, the least risk-averse people benefit … small welfare losses. In other words, when there are complete insurance markets, aggregate fluctuations in consumption are …