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 …

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 …

search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

populated by a large number of long-lived, risk-averse households with homothetic preferences who can invest in risk … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 …

model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals …

heterogeneous income risk, liquid and illiquid assets, price adjustment costs, and in which households differ by their occupation … occupation-specific infection risk and a ZLB policy and study the impact of occupational and aggregate labor supply shocks. We …

We study workers' idiosyncratic earnings risk over the life-cycle using a German administrative data set. Positive and … incomplete markets model. Moreover, age-varying risk implies a linear increase in consumption inequality late in working life …