“...•Equity home bias occurs along both extensive and intensive margins.•Wealthy US households are more likely to participate in the foreign stock market.•As...”

“...We analyze differences in consumption and wealth that arise because of different degrees of rationality of households. In particular, we use a standard New...”

“...Recent works have stressed that precautionary savings can provide a level of insurance against unemployment risks that is comparable to the current...”

“...Recent works have stressed that precautionary savings can provide a level of insurance against unemployment risks that is comparable to the current...”

“...In this paper, I examine the implications of collateral constraints in a production economy and demonstrate that collateral constraints may have a role to play...”

“...Bankruptcy brings the asset pricing implications of Lucas's (1978) endowment economy in line with the data. I introduce bankruptcy into a complete markets...”