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The Nature of Countercyclical Income Risk

Guvenen, Fatih - 2015

This paper studies the nature of business cycle variation in individual earnings risk using a dataset from the U.S. Social Security Administration, which contains (uncapped) earnings histories for millions of anonymous individuals. The base sample is a nationally representative panel containing...

Persistent link: https://www.econbiz.de/10013035613

The Responses of Wages and Prices to Technology Shocks

Edge, Rochelle M.; Laubach, Thomas; Williams, John C. - 2004

This paper reexamines wage and price dynamics in response to permanent shocks to productivity. We estimate a micro … technology and monetary policy shocks. We utilize a flexible specification for wage- and price-setting that allows for the … wage and price inflation. On the price front, we find that in our VAR inflation jumps in response to an identified …

Persistent link: https://www.econbiz.de/10014072266

Dynamic Beveridge Curve Accounting

Ahn, Hie Joo - 2020

We develop a dynamic decomposition of the empirical Beveridge curve, i.e., the level of vacancies conditional on unemployment. Using a standard model, we show that three factors can shift the Beveridge curve: reduced-form matching efficiency, changes in the job separation rate, and...

Persistent link: https://www.econbiz.de/10012834050

Macroeconomic Shocks and Racial Labour Market Differences in the U.S

De, Kuhelika - 2020

Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...

Persistent link: https://www.econbiz.de/10012844419

Firms' Relative Sensitivity to Aggregate Shocks and the Dynamics of Gross Job Flows

Pinto, Eugenio - 2009

We propose a measure for the importance of aggregate shocks for fluctuations in job flows at the firm level. Using data for the Portuguese economy, we find that large and old firms exhibit higher relative sensitivity to aggregate shocks and have a disproportional influence over the dynamics of...

Persistent link: https://www.econbiz.de/10012764198

Firm Entry and Macroeconomic Dynamics : A State-Level Analysis

Gourio, Francois - 2016

Using an annual panel of US states over the period 1982-2014, we estimate the response of macroeconomic variables to a shock to the number of new firms (startups). We find that these shocks have significant effects that persist for many years on real GDP, productivity, and population. This...

Persistent link: https://www.econbiz.de/10013210401