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provide only partial insurance against shocks to risk-averse workers and offer contingent contracts, where payments are … 11%, but price permanent worker differences, a large contributor (32%) to variations in wages. A large share of the … of redistributive policies and find that almost 40% of government-provided insurance is undone by crowding out firm …
Persistent link: https://www.econbiz.de/10014090932
The last 20 years have been marked by a sharp rise in international demand for U.S. reserve assets, or safe stores-of-value. What are the welfare consequences to U.S. households of these trends, or of a reversal? In a lifecycle model with aggregate and idiosyncratic risks, the young and oldest...
Persistent link: https://www.econbiz.de/10013058251
The magnitude of and heterogeneity in systematic earnings risk has important implications for various theories in macro, labor, and financial economics. Using administrative data, we document how the aggregate risk exposure of individual earnings to GDP and stock returns varies across gender,...
Persistent link: https://www.econbiz.de/10012963164
jobs offering higher wages at the cost of a greater reduction in school time productivity. The wages of students, other …
Persistent link: https://www.econbiz.de/10014136448
Cyclical patterns in earnings can arise when contracts between firms and their workers are incomplete, and when workers cannot borrow or lend so as to smooth their consumption. Effort cycles generate occasional large changes in earnings. These large changes are transitory, consistent with recent...
Persistent link: https://www.econbiz.de/10014090938
cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … emphasis on cross-country comparisons. Most, but not all, countries experienced substantial increases in wages and earnings …
Persistent link: https://www.econbiz.de/10013149990
puzzle of increasing real wages during a period of high unemployment …
Persistent link: https://www.econbiz.de/10013310022
puzzle of increasing real wages during a period of high unemployment …
Persistent link: https://www.econbiz.de/10013141628
We show that economic conditions when managers enter the labor market have long-run effects on their career paths and … managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also … environment is important to the formation and selection of managers …
Persistent link: https://www.econbiz.de/10013067126
Persistent link: https://www.econbiz.de/10000151680