Financing from family and friends is the predominant type of informal finance. This paper proposes a theory that … thus constrained: entrepreneurs may forgo risky investment rather than finance it through family and friends. Formal …

form of insurance against adverse economic conditions. It first documents the fact that adult children who received … negative income shocks during the Great Recession were more likely to move to live closer to parents. Only one tenth of these …

What do labor income dynamics look like over the life-cycle? What is the relative importance of persistent shocks …, transitory shocks and heterogeneous profiles? To what extent do taxes, transfers and the family attenuate these various factors ….We let individuals with different education levels have a separate income process; and within each skill group, we allow for …

may be used to provide the latter improved access to formal insurance. Urban migrants in Ouagadougou (the capital of … Burkina Faso) originating from nearby villages were offered, at the prevailing market price, a rainfall index insurance … offered an insurance policy that would make pay-outs directly to the intended beneficiary rather than the subscriber. We argue …

low-consumption states, and undermines limited liability. The very characteristics that generate intra-family insurance …The majority of informal finance, in developed and developing countries, is provided by family and friends. Yet … characteristics of family finance: family investors often accept below-market or even negative returns, and despite this, borrowers …

-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired … extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the … of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and …

-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired … extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the … of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and …