How Much Consumption Insurance beyond Self-Insurance?

By Greg Kaplan, Giovanni L. Violante. 2010

342 citations recorded by the source corpus.

Subfields: Accounting, Demography, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/f8d63b701dd7d3ffe14b6a819a306be94f05baf1

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Citations in the corpus

Earnings, consumption and lifecycle choices (2010, background): “…state value of Ξi,a,t is between 0.75 and 0.92 for a wide range of plausible parameter values. age as a non-significant finding.25 As discussed by Kaplan and Violante (2010), the theoretical pattern of the smoothing coeffi cients is the result of two forces: a wealth composition effect and a…”
Earnings and Consumption Dynamics: A Nonlinear Panel Data Framework (2015, background): “For fixed values of (a(3), y(3), η(3)), equation (19) has the structure of mixture model, where ξi is the unobserved latent component.”
The Wealthy Hand-to-Mouth (2014, methodology): “We refer the reader to BPP and to Kaplan and Violante (2010) for a thorough description of the methodology.”
Inequality and the Lifecycle (2011, background): “2See for example Blundell, Pistaferri, and Preston (2008) and Kaplan and Violante (2010).”
Consumption and labor supply with partial insurance: An analytical framework (2014, result): “, Keane, 2011). The average estimated values for the variances of uninsurable and insurable permanent wage shocks (vω and vη) and corresponding cohort effects (vα0 and vκ0) indicate that almost 45% of permanent life-cycle wage innovations are insurable, while around 30% of initial wage variation at ”
House Prices and Consumer Spending (2015, methodology): “51 Since this requires individual level panel data on income and consumption, we use data from the Panel Study of Income Dynamics (PSID).52 Kaplan and Violante (2010) show that BPP is highly robust at recovering the true MPC to temporary shocks parameter in a variety of models.”
Inferring Labor Income Risk and Partial Insurance from Economic Choices (2014, background): “Important examples include Hall and Mishkin (1982) and, more recently, Blundell, Pistaferri, and Preston (2008), Kauffmann and Pistaferri (2009), Krueger and Perri (2009), Kaplan and Violante (2010), and Heathcote, Storesletten, and Violante (2014).”
What Would You Do with $500? Spending Responses to Gains, Losses, News, and Loans (2018, methodology): “We choose these parameters to generate a fraction of poor handto-mouth households (households with zero net worth) and wealthy hand-to-mouth households (households with zero liquid assets but positive illiquid assets) that is broadly consistent with the evidence reported in Kaplan et al. (2014). Set”
Consumption Inequality and Family Labor Supply (2014, background): “Since age-specic cells are quite small given the size of our data set, however, we restrict the age-variation to stages of the life cycle (30-37, 38-42, 43-47, 48-52, 53-57).”