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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household data from the United States. We find countercyclical...
Persistent link: https://www.econbiz.de/10012215285
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A competitive model of worker replacement and wage rigidity
Snell, Andy; Thomas, Jonathan P.; Wang, Zhewei - 2014
can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there …
Persistent link: https://www.econbiz.de/10010237280
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Wage and employment cyclicalities at the establishment level
Merkl, Christian; Stüber, Heiko - 2021
We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business … wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby …
Persistent link: https://www.econbiz.de/10012619265
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Does self-employment pay? : the role of unemployment and earnings risk
Garcia-Cabo, Joaquin; Madera, Rocio - 2024
This paper documents the role of unemployment and earnings risk in reconciling evidence in payoff differentials between self-employment and paid-employment. Using Spanish administrative data, we characterize the distribution and dynamics of earnings and document lower and less dispersed earnings...
Persistent link: https://www.econbiz.de/10014543846
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A test of the "Krugman hypothesis" for the United States, Britain, and western Germany
Puhani, Patrick A. - 2003
Persistent link: https://www.econbiz.de/10013428556
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On the identification of relative wage rigidity dynamics : a proposal for a methodology on cross-section data and empirical evidence for Poland in transition
Puhani, Patrick A. - 2000
We present a new and simple empirical methodology to identify relative wage rigidity dynamics. The methodology is … relative wage and unemployment differentials for various labour market defining characteristics. A simultaneous increase in the … relative wage and the unemployment likelihood is defined as a relative wage rigidity dynamic for a labour market characteristic …
Persistent link: https://www.econbiz.de/10013428349
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Earnings dynamics in Germany
Pessoa, Ana Sofia - 2021
transitions between labor status or jobs, whereas for those at the top, earnings changes are mainly induced by wage rate growth …
Persistent link: https://www.econbiz.de/10012534545
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Consumption dynamics and welfare under non-Gaussian earnings risk
Guvenen, Fatih; Ozkan, Serdar; Madera, Rocio - 2024
Recent empirical studies document that the distribution of earnings changes displays substantial deviations from lognormality: in particular, earnings changes are negatively skewed with extremely high kurtosis (long and thick tails), and these non-Gaussian features vary substantially both over...
Persistent link: https://www.econbiz.de/10014543845
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Biased expectations and labor market outcomes : evidence from German survey data and implications for the East-West wage gap
Balleer, Almut; Duernecker, Georg; Forstner, Susanne; … - 2023
income in East Germany. The bias difference in labor market expectations explains part of the East-West German wage gap. …
Persistent link: https://www.econbiz.de/10014247564
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The long-term earnings' effects of a credit market disruption
Adamopoulou, Effrosyni; De Philippis, Marta; Sette, Enrico - 2023
reallocate mostly to low capital-intensive firms, experiencing persistent wage losses. …
Persistent link: https://www.econbiz.de/10014440036