Risk Sharing within the Firm

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Exploring the dynamics of labor income risk, this book examines how insurance is primarily managed within firms and through public institutions rather than financial markets. It identifies four key factors influencing this internal insurance: the presence of a public safety net, moral hazards for employees and firms, and workers' bargaining power. The text highlights trends in employment insurance across family and nonfamily firms and discusses the decline of risk sharing over the past thirty years, linking it to various economic and institutional changes.