retirement. Particular attention is paid to the impact of an increase in the risk of losing one s job on the optimal path of … consumption and wealth accumulation. Even if one does not actually lose their job, an increase in the risk of a job loss is by …

addressing saving against unemployment risk in terms of changes in credit supply and households’ financial wealth. Time series …This paper contributes to the literature on the effects of uncertainty on household saving – a long-standing and … extensively explored topic yet leaving a number of issues inconclusive. It concentrates on the labor income uncertainty by …

adjustment costs can cause a mean-preserving increase in unemployment risk to lead to increased consumption. The predictions of … risk as their unemployment shocks are more highly correlated. Such couples spend more on owner-occupied housing than other … usual relationship between risk and consumption. In particular, we present a model where the presence of plausible …

adjustment costs can cause a mean-preserving increase in unemployment risk to lead to increased consumption. The predictions of … risk as their unemployment shocks are more highly correlated. Such couples spend more on owner-occupied housing than other … usual relationship between risk and consumption. In particular, we present a model where the presence of plausible …

uncertainty and incomplete markets is likely to be subject to multiple self-fulfilling equilibria. In a benchmark economy, the …) expected future capital reduces (increases) the equilibrium interest rates, increasing (reducing) the savings of the wealth … change in the aggregate savings, inducing stability in the algorithm as a by-product. …