-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand … for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill …

We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that … different aversions to risk and intertemporal fluctuations, convex damages, uncertainties in economic growth, atmospheric carbon …-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate …

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

normality. For the bottom earners, large income changes are driven equally by hours and wages which is consistent with …

, using administrative datasets from Brazil and Italy. We categorize firms into discrete “classes”—which our conceptual … classes. Four tests leveraging firm stayers and movers, occupation and industry switchers, hiring wages, and displaced workers …

This paper examines the relationship between idiosyncratic risk in labour income and fluctuations in aggregate labour … BHPS sub-sample of Understanding Society for 2010-2014. We measure idiosyncratic risk in labour income by the relevant … idiosyncratic risk increases during contractions in the labour market. Furthermore, we find evidence of insurance, both at the …

, individual wage risk has also increased. This paper proposes a mechanism through which a rise in wage risk increases the skill … premium. Intuitively, a rise in uninsured wage risk increases precautionary savings, thereby boosting capital accumulation … that the rise in wage risk observed between 1967 and 2010 increases the skill premium significantly. This finding is robust …

This paper documents the role of unemployment and earnings risk in reconciling evidence in payoff differentials between … the role of lower unemployment risk in self-employment. We decompose earnings risk dynamics by estimating a life … throughout their life-cycle. Our results challenge the conventional view that self-employment necessarily entails higher risk and …

is intractable. In this note we prove this comparative static result on risk aversion and wages in general equilibrium …One of the leading theories of entrepreneurship is that less risk averse individuals become entrepreneurs and more risk … comparative static result, that an economy-wide increase in risk aversion lowers the equilibrium wage, appeared to require the …