households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints … due to the limited pledgeability of human capital. We show analytically that, consistent with the life insurance data, in …

households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … capital risk. A calibrated version of the model can quantitatively account for the life-cycle variation of life-insurance … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints …

least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …"We develop a macroeconomic model with physical and human capital, human capital risk, and limited contract enforcement …. We show analytically that young (high-return) households are the most exposed to human capital risk and are also the …

least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …We develop a macroeconomic model with physical and human capital, human capital risk, and limited contract enforcement …. We show analytically that young (high-return) households are the most exposed to human capital risk and are also the …

households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints … due to the limited pledgeability of human capital. We show analytically that, consistent with the life insurance data, in …

households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … capital risk. A calibrated version of the model can quantitatively account for the life-cycle variation of life-insurance … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints …