This review article examines the role of labor income risk in determining the value of a person's human capital. We … framework, we highlight the implications of different assumptions about the correlation between market returns and labor income …

To effectively cope with an unexpected, large, and negative income shock, I propose a life-cycle model for income risk … generalizing the Arrow-Debreu price with income risk premium …

income risk affects equity ownership turnover. A portfolio choice model with an income process extracted from survey data … shows that idiosyncratic income shocks are more important for dynamic equity ownership decisions than aggregate stock market …

disastrous income risk. We first empirically explore the relations among consumption changes, aggregate income, disaster shock … important role of insurance with a focus on the recovery of income in a disaster. We highlight how extent of the disastrous … income risk to which the agent is exposed and her income recovery post disaster jointly affect the agent's optimal decisions …

income or earn and retain the income for a period before making intertemporal decisions. We hypothesize that loss aversion in … hypothesis: among subjects who earn and retain their income we elicit substantially higher discount rates relative to those …