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 …

This paper considers an economy where individuals differ in productivity and in risk. Rochet (1991) has shown that when … private insurance markets offer full coverage at fair rates, social insurance is desirable if and only if risk and … violated for the old age dependency risk (mainly because longevity in turn is positively correlated with productivity). We …

households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …

differences in risk aversion play no significant role in competitive (tournament) vs. piece-rate job choices and consequent gender … wage gaps. Subjects in the treatment experiments are sorted into relatively more and relatively less risk averse groupings …. Relatively less risk averse subjects are assigned to a risky job track involving a known constant probability of unemployment in …

In this paper, we empirically assess the causal relationship between trade and individual income risk and study the … from 1976 to 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry … exports (per worker) are strongly and causally related to income risk: Imports increase risk and exports decrease risk, and …