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Insurance in extended family networks

Orazio Attanasio (), Costas Meghir () and Corina Mommaerts
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Orazio Attanasio: Institute for Fiscal Studies and Institute for Fiscal Studies and University College London
Corina Mommaerts: Institute for Fiscal Studies

No W18/17, IFS Working Papers from Institute for Fiscal Studies

Abstract: We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each component is insured. We apply our framework to extended family networks in the United States by exploiting the unique intergenerational structure of the Panel Study of Income Dynamics. We find that over 60% of shocks to household income are potentially insurable within extended family networks. However, we find little evidence that the extended family provides insurance for such idiosyncratic shocks.

New Economics Papers: this item is included in nep-ias and nep-net
Date: 2018-07-11
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Related works:
Working Paper: Insurance in Extended Family Networks (2018) Downloads
Working Paper: Insurance in Extended Family Networks (2015) Downloads
Working Paper: Insurance in extended family networks (2015) Downloads
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