stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. -- uncertainty ; life-cycle models ; unemployment … frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are …

Using German panel data, we assess the causal effect of job loss, and thus of an extensive income shock, on risk … attitude. In line with predictions of expected utility reasoning about absolute risk aversion, losing oneś job reduces the … perceives the threat of job loss and is of a transitory nature. The change in stated risk attitude matches observable job …

productivity risk is greater than the value of unemployment insurance which provides (partial) insurance against employment risk … frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are … heterogeneity. In contrast to simpler models that attribute all income fluctuations to shocks, our framework disentangles …

productivity risk is greater than the value of unemployment insurance which provides (partial) insurance against employment risk … frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are … heterogeneity. In contrast to simpler models that attribute all income fluctuations to shocks, our framework disentangles …