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percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …-whole (full) compensation and mean and median work incomes. Given that consumption uncertainty associated with compensation …
Persistent link: https://www.econbiz.de/10012034365
policy relevant outcomes and policy effects, that of the wage premia for fatal injury risk. Estimates of the overall hedonic …
Persistent link: https://www.econbiz.de/10008688722
model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals …
Persistent link: https://www.econbiz.de/10003514448
We estimate the changes in US male labor market risk over the last three decades in a model of endogenous labor supply … a life-cycle model with search frictions, we show that the estimated changes in risk can account for 85 percent of the … increase in within group wage inequality. The welfare costs of rising risk are small. …
Persistent link: https://www.econbiz.de/10011595910
This paper analyzes the optimal response of the social insurance system to a rise in labor market risk. To this end, we … develop a tractable macroeconomic model with risk-free physical capital, risky human capital (labor market risk) and … (human capital) risk increases social welfare if the government adjusts the tax-and-transfer system optimally. Finally, we …
Persistent link: https://www.econbiz.de/10011977744
practices between schools. Tentative analyses also indicate that counselors reduce students' uncertainty about their own … individual preferences at least to the same extent as uncertainty about objective measures such as employment prospects. …
Persistent link: https://www.econbiz.de/10010196071
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 …
Persistent link: https://www.econbiz.de/10003825129
determining the cyclical properties of labor market risk. -- Life-cycle risk ; uncertainty fluctuations ; business cycle …, but with increments being smaller in the European data. Third, we find that wage risk is procyclical in Germany while it …
Persistent link: https://www.econbiz.de/10003896465
it is due to greater uncertainty faced by agents. Applying the methodology of Cunha, Heckman, and Navarro (2005) to data … predictable and unpredictable components of earnings have increased in recent years. The increase in uncertainty is substantially … greater for unskilled workers. For less skilled workers, roughly 60% of the increase in wage variability is due to uncertainty …
Persistent link: https://www.econbiz.de/10003561658
This chapter reviews the economics literature on immigrant-native differentials in occupational risk. It begins by … briefly explaining the theory of compensating wage differentials. It then provides a more detailed discussion of the empirical … advanced economies, but not all. Finally, most, but not all, immigrants appear to earn risk premiums similar to natives for …
Persistent link: https://www.econbiz.de/10009558950