In this paper, we develop an analytically tractable dynamic model of optimal consumption and savings decisions with … disastrous income risk. We first empirically explore the relations among consumption changes, aggregate income, disaster shock … income risk to which the agent is exposed and her income recovery post disaster jointly affect the agent's optimal decisions …

greater vulnerability to labor market risk by male-only headed households and those with relatively intensive levels of …

This paper aims to fill the gaps in the analysis of risk‐sharing channels at the microlevel, both within and across … to quantify in a unified and consistent framework several risk‐sharing mechanisms that so far have been documented … both 2008-2010 and 2010-2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings …