consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare … welfare evaluation. -- income mobility ; labor market risk ; social welfare …

In this paper, we empirically assess the causal relationship between trade and individual income risk and study the … from 1976 to 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry … exports (per worker) are strongly and causally related to income risk: Imports increase risk and exports decrease risk, and …