Empirical work in labour economics has focused on rent sharing as an explanation for the observed correlation in cross-sections between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four...

Empirical work in labour economics has focused on rent sharing as an explanation for the observed correlation in cross-sections between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four...

Much of the literature on consumption smoothing and on risk sharing has focused on the ability of the household as a unit to protect its consumption. Little is known about the ability of individual members of the household to keep consumption smooth over time or relative to other members of the...

In recent years, typhoons have struck the Philippines and Vanuatu; earthquakes have rocked Haiti, Pakistan, and Nepal; floods have swept through Pakistan and Mozambique; droughts have hit Ethiopia, Kenya, and Somalia; and more. All led to loss of life and loss of livelihoods, and recovery will...