percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …Courts typically base compensation for loss of income in personal injury cases on either mean or median work income …. Yet, quantatively, mean and median incomes are typically very different. For example, in the US median income is 65 …

percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …Courts typically base compensation for loss of income in personal injury cases on either mean or median work income …. Yet, quantatively, mean and median incomes are typically very different. For example, in the US median income is 65 …

transitory income (e.g., from a stimulus check) is higher under non-Gaussian earnings risk. … idiosyncratic risk implied by the benchmark process is between two-to-four times higher than the canonical Gaussian one. Third, the … standard method in the literature for measuring the pass-through of income shocks to consumption—can significantly overstate …

We study the risk exposure of liquidity portfolios to labor income and consumption risk in the long run using a dynamic … willing to pay price premium for liquid stocks because these stocks provide a good hedge against labor income risk and long ….67% per annum, with about 70% attributed to compensation for labor income risk and 30% to consumption risk in the long run …

theory suggests that with increasing labor income risk, the reluctance of households to hold stocks increases. We propose to … measure income risk as the observed variation of household income over a five year period. We find that indeed higher income … risk reduces the propensity to invest in stocks. However, when controlling for household heterogeneity as well as …

frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are … heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income …. Estimates of productivity risk, once we control for employment risk and for individual labour supply choices, are substantially …