-cycle insurance impact is much smaller. At the mean, a positive hours shock of one standard deviation raises life-time income by 10 …

' long-term income situation. …

We provide a critique of the methods that have been used to derive measures of income risk and draw attention to the … importance of demographic factors as a source of income risk. We also propose new measures of the contribution to total income …

Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels …) exhibit a higher Marginal Propensity to Consume (MPC) in response to transitory income shocks, all else being equal. This … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction …

Using data from the German Socio-Economic Panel (GSOEP), this paper analyzes the dynamics of equivalent income in … persistence of transitory shocks and their implications for the persistence of poverty and income inequality. The results suggest … that 52 to 69 percent of income inequality in West Germany were due to permanent differences between individuals and that …

time periods. Using Michigan Panel Study of Income Dynamics data and a number of different identification strategies, we …