In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … present risks is a dichotomic task: Wage risk is diversified ex post among the skilled by graduate taxation and skill …-specific tuition fees. Educational risk of failure and inequality between skilled and unskilled workers are mitigated ex ante by …

parametric and non-parametric measures to capture expected wage risk. These wage risk measures are unfettered by heterogeneity … which handicapped the use of actual market wage dispersion as risk measure in earlier studies. Students in our sample … anticipate that the market provides compensation for risk, as has been established with Risk Augmented Mincer earnings equations …

turns out to decrease ex-ante individual welfare, unless restrictions are assumed on retirement behavior. Overall, risk … shown to yield a slight ex-ante welfare improvement from a purely risk-insurance perspective. This relative gain stems from … risk diversification across working-life wages in computing benefits. -- social security reforms ; uncertainty ; risk …

, but with increments being smaller in the European data. Third, we find that wage risk is procyclical in Germany while it … determining the cyclical properties of labor market risk. -- Life-cycle risk ; uncertainty fluctuations ; business cycle …

policy relevant outcomes and policy effects, that of the wage premia for fatal injury risk. Estimates of the overall hedonic …

variance of exam grades is higher and that starting wages are lower if the skew is higher: employers shift quality risk to new …

model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals …

This chapter reviews the economics literature on immigrant-native differentials in occupational risk. It begins by … advanced economies, but not all. Finally, most, but not all, immigrants appear to earn risk premiums similar to natives for …

substantial. The second result is that true wage risk is almost three times as large as the wage variance observed after job … mobility, which is what other papers in the literature have called wage risk. This suggests a very different picture of the …