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dc.date.accessioned2015-02-12T12:23:29Z
dc.date.available2015-02-12T12:23:29Z
dc.date.created2014-10-17T14:57:44Z
dc.date.issued2014
dc.identifier.citationHeathcote, Jonathan Storesletten, Kjetil Violante, Giovanni l. . Consumption and labor supply with partial insurance: An analytical framework. The American Economic Review. 2014, 104(7), 2075-2126
dc.identifier.urihttp://hdl.handle.net/10852/42223
dc.description.abstractWe develop a model with partial insurance against idiosyncratic wage shocks to quantify risk sharing. Closed-form solutions are obtained for equilibrium allocations and for moments of the joint distribution of consumption, hours, and wages. We prove identification and demonstrate how labor supply data are informative about risk sharing. The model, estimated with US data over the period 1967–2006, implies that (i) 39 percent of permanent wage shocks pass through to consumption; (ii) the share of wage risk insured increased until the early 1980s; and (iii) preference heterogeneity is important in accounting for observed dispersion in consumption and hours.en_US
dc.languageEN
dc.language.isoenen_US
dc.publisherAmerican Economic Association
dc.titleConsumption and labor supply with partial insurance: An analytical frameworken_US
dc.typeJournal articleen_US
dc.creator.authorHeathcote, Jonathan
dc.creator.authorStoresletten, Kjetil
dc.creator.authorViolante, Giovanni l.
cristin.unitcode185,17,6,0
cristin.unitnameØkonomisk institutt
cristin.ispublishedtrue
cristin.fulltextpreprint
cristin.qualitycode2
dc.identifier.cristin1164796
dc.identifier.bibliographiccitationinfo:ofi/fmt:kev:mtx:ctx&ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=The American Economic Review&rft.volume=104&rft.spage=2075&rft.date=2014
dc.identifier.jtitleThe American Economic Review
dc.identifier.volume104
dc.identifier.issue7
dc.identifier.startpage2075
dc.identifier.endpage2126
dc.identifier.doihttp://dx.doi.org/10.1257/aer.104.7.2075
dc.identifier.urnURN:NBN:no-46597
dc.type.documentTidsskriftartikkelen_US
dc.type.peerreviewedPeer reviewed
dc.source.issn0002-8282
dc.identifier.fulltextFulltext https://www.duo.uio.no/bitstream/handle/10852/42223/1/Consumption%2Band%2BLabor%2BSupply.pdf
dc.type.versionAcceptedVersion


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