Much of the literature on consumption smoothing and on risk sharing has focused on the ability of the household as a … unit to protect its consumption. Little is known about the ability of individual members of the household to keep … consumption smooth over time or relative to other members of the household. We use data on adult nutrition in Ethiopia to …

literature, the habit hypothesis does not imply a price for risk much higher than the one implied by models with intertemporally … will not command a high price of risk because households manage to avoid this risk. Second, the composition of the set of …

-space approach of Arrow-Debreu. A host of new interesting economic issues emerge. First, risk averse agents can attempt to insure … themselves through markets or through mutual insurance within a multi-member group, say a household, by pooling resources within … an open question. Second, one may ask more specifically what is the role of social groups for risk sharing and risk …

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that … assets. Because households are subject to more background risk than previously considered, the estimated model implies a … substantially lower coefficient of risk aversion. We also find renewed support for rule-of-thumb investment strategies under the …

household-level data covering the entire population in Denmark over the period 1987-2014 and exploit a long-standing currency …