Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that … assets. Because households are subject to more background risk than previously considered, the estimated model implies a … substantially lower coefficient of risk aversion. We also find renewed support for rule-of-thumb investment strategies under the …

wealth accumulation in the presence of undiversifiable labor income risk. Households filter information about future expected …

-term assignments. Large parts of the business risk are transferred down onto the workforce in vertically disintegrated organizational … is patterned by repeated and discontinuous alternations between work and unemployment, and workers cycle between multiple … artistic occupations has to be balanced against the risk of failure that turns ideally non-routine jobs into ordinary or …

that non-random panel attrition is of little concern for prime-aged male labor supply estimation because the effect of …