In a production economy with trade in financial markets motivated by the desire to share labor-income risk and to … speculate, we show that speculation increases volatility of asset returns and investment growth, increases the equity risk … improve welfare because they substantially reduce speculative trading without impairing excessively risk-sharing trades. …

the true risk sharing degree if, in reality, preferences correlate with variations of household income. We use household … Household Survey data to provide empirical evidence of the effect of reforms on household risk sharing …This paper investigates the degree of risk sharing across households in China with heterogeneous risk and time …

In the present paper it will be shown empirically that risk at poverty has a negative impact on household consumption …

looking at the expenditure response of workers to the change in unemployment risk measured at the occupational level. We find … that occupational unemployment risk does not have a large impact on consumption expenditure. However, despite investigating … multiple forms of occupational unemployment risk for multiple expenditure categories in two expenditure surveys (PSID, CEX), we …

Economic policy uncertainty is proven to have an important effect on household consumption. However, the literature on …, is limited. In this paper, we propose two channels through which economic policy uncertainty affects household … consumption, the precautionary saving channel and the investment-employment channel. Then, we use the household survey data (China …