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Income in Jeopardy : how losing employment affects the willingness to take risks/ Clemens Hetschko; Malte Preuss

Hetschko, Clemens; Preuss, Malte - 2015

Using German panel data, we assess the causal effect of job loss, and thus of an extensive income shock, on risk attitude. In line with predictions of expected utility reasoning about absolute risk aversion, losing oneś job reduces the willingness to take risks. This effect strengthens in...

Persistent link: https://www.econbiz.de/10011405097

How important is precautionary labor supply?

Jessen, Robin; Rostam-Afschar, Davud; Schmitz, Sebastian - 2016

We quantify the importance of precautionary labor supply using data from the German Socio- Economic Panel (SOEP) for 2001-2012. We estimate dynamic labor supply equations augmented with a measure of wage risk. Our results show that married men choose about 2.5% of their hours of work or one week...

Persistent link: https://www.econbiz.de/10011483095

Does consumption decline at retirement? : evidence from repeated cross-section data for Germany

Beznoska, Martin; Steiner, Viktor - 2012

The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the life-cycle hypothesis is solved by allowing for broader...

Persistent link: https://www.econbiz.de/10009559647

The effect of wealth on worker productivity

Eeckhout, Jan; Sepahsalari, Alireza - 2020

Persistent link: https://www.econbiz.de/10012820023

Hours risk and wage risk : repercussions over the life-cycle

Jessen, Robin; König, Johannes - 2020

We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks we formulate a life-cycle model of consumption and labor supply. Both...

Persistent link: https://www.econbiz.de/10012145317

The impact of short- and long-term participation tax rates on labor supply

Bartels, Charlotte; Pestel, Nico - 2015

Generous income support programs as provided by European welfare states have often been blamed to hamper employment. This paper investigates the importance of incentives inherent in the tax-benefit system for the individual decision to take up work. Using German microdata over the period...

Persistent link: https://www.econbiz.de/10011295803

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

Fiscal austerity, unemployment and family firms

Munkacsi, Zsuzsa - 2015

I calculate unemployment multipliers of fiscal consolidation policies in a standard, closed-economy New Keynesian … percentage of family firms in the labor force. I find that fiscal austerity raises unemployment. Both at peak and cumulatively …, unemployment reacts least when the budget is consolidated by increasing the rate of value-added tax. At peak, the highest increase …

Persistent link: https://www.econbiz.de/10010516542

The rise of the added worker effect

Mankart, Jochen; Oikonomou, Rigas - 2016

We document that the added worker effect (AWE) has increased over the last three decades. We develop a search model with two earner households and we illustrate that the increase in the AWE from the 1980s to the 2000s can be explained through i) the narrowing of the gender pay gap, ii) changes...

Persistent link: https://www.econbiz.de/10011456513

Current unemployment variance decomposition and consequences of using proxies

Corseuil, Carlos Henrique; Foguel, Miguel Nathan; … - 2021

We offer a decomposition for the variance of the current unemployment rate that not only measures the contributions of …

Persistent link: https://www.econbiz.de/10012624854

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