to make transfers to state governments on the basis of political considerations. These considerations are the alignment …

variability in returns to schooling is forecastable. This has important implications for using measured variability to price risk …

Although economic agents routinely face various types of economic uncertainty, their effects are often unclear and hard … to assess, in part due to the absence of suitable measures of uncertainty. Because of the numerous and very substantial … their periods of uncertainty, moreover, these countries have experienced sharply falling fertility rates. Some have argued …

earnings variability are due to uncertainty and which components are due to components of human diversity that are forecastable …

Optimal layoff rules in closed form are derived for all workers in a firm that downsizes under uncertainty and faces … aircraft building company that went bankrupt in 1996 shows that workers with high uncertainty associated with higher than …

frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are …. Estimates of productivity risk, once we control for employment risk and for individual labour supply choices, are substantially … lower than estimates that attribute all wage variation to productivity risk. Increases in productivity risk impose a …