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The Insurance Role of the Family

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Handbook of Labor, Human Resources and Population Economics
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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. This 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.

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Acknowledgments

Responsible Section Editor: Klaus F. Zimmermann.

This chapter has benefitted from valuable comments of the editors and anonymous referees. Financial support by the Fritz-Thyssen-Stiftung (Grant: 10.19.1.014WW) is gratefully noted. There is no conflict of interest.

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Correspondence to Fabian Kindermann .

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Fehr, H., Kindermann, F. (2022). The Insurance Role of the Family. In: Zimmermann, K.F. (eds) Handbook of Labor, Human Resources and Population Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-57365-6_269-1

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