into an i.i.d. generational consumption shock. In other words, each generation bears all of the risk associated with their … producing human capital. We also demonstrate that this attenuation effect tends to concentrate generational consumption risk … around the generation subject to the birth rate shock. In a limiting case, we show that an i.i.d birth rate shock translates …

into an i.i.d. generational consumption shock. In other words, each generation bears all of the risk associated with their … producing human capital.We also demonstrate that this attenuation effect tends to concentrate generational consumption risk … around the generation subject to the birth rate shock. In a limiting case, we show that an i.i.d birth rate shock translates …

negative shock transmits to consumption compared to 9% of an equal-sized positive shock – and the pass-through increases as the … shock worsens. Our results are consistent with surveys of consumption responses to hypothetical events and suggest that tail … income risk matters substantially for consumption …

A large number of pairs of countries exhibit a dynamic pattern in which: (i) Fertility in both countries declines … across time; (ii) Initially one country has higher fertility and lower per-capita income compared to the other; (iii) In time …, as per-capita income converges, fertility rates in the poorer country become lower than in the richer one.This paper …

wherin a state s representative individual may choose to marry in order to diversify his or her idiosyncratic income risk … undiversifiable risk becomes larger, and when a state s initial income and growth rate is lower. A test of the model s predictions …, using cross-sectional data for the 50 U.S. states, suggests that there is broad support for a risk sharing motive for …

Fertility in the United States rose from a low of 2.27 children for women born in 1908 to a peak of 3.21 children for …-twentieth century baby boom and generated a rise in women’s human capital, ultimately leading to a decline in desired fertility for … associated with a rise in fertility for women born between 1921 and 1940, with a rise in college and high school graduation rates …