The Insurance Role of the Family

37 Pages Posted: 9 Nov 2021

See all articles by Hans Fehr

Hans Fehr

University of Würzburg - Institute of Economics and Social Sciences

Fabian Kindermann

University of Regensburg; Netspar

Date Written: September 2021

Abstract

Besides love and affection the family also provides economic benefits. Beyond gains from specialization and economies of scale, it serves as a provider of insurance against various risks individuals face throughout their life. This insurance role of the family has changed during past decades owing to several factors: a fundamental transition in the gender wage gap and female labor force participation, the legal framework, and the dynamics of household formation over the life cycle. The present chapter reviews recent studies that quantify the importance of family insurance and studies its interplay with social insurance as well as the private insurance market.

Keywords: Added Worker Effect, family insurance, Household decision making

JEL Classification: D10, D15, D19, J22

Suggested Citation

Fehr, Hans and Kindermann, Fabian, The Insurance Role of the Family (September 2021). CEPR Discussion Paper No. DP16591, Available at SSRN: https://ssrn.com/abstract=3960171

Hans Fehr (Contact Author)

University of Würzburg - Institute of Economics and Social Sciences ( email )

Sanderring 2
D-97070 Wuerzburg
Germany
0931- 31 29 72 (Phone)
0931- 888 71 29 (Fax)

Fabian Kindermann

University of Regensburg ( email )

Universitaetsstrasse 31
D-93040 Regensburg
Germany

Netspar ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
12
Abstract Views
363
PlumX Metrics