The earnings of young adults who live in the same neighborhoods as their parents completely recover after a job … since the earnings benefits are concentrated among young adults who have children. The result also suggests that parental …

evidence that a household's income rank — its position in the income distribution relative to its close neighbors — is … income heterogeneity might have large consequences for household consumption and portfolio decisions …

We propose a novel approach to estimate household income uncertainty at various future horizons and characterize how … the estimated uncertainty evolves over the life cycle. We measure income uncertainty as the variance of linear forecast … errors conditional on information available to households prior to observing the realized income. This approach is …

We study the trend in household income uncertainty using a novel approach that measures income uncertainty as the … variance of forecast errors at each future horizon separately without imposing parametric restrictions on the underlying income … shocks. We find that household income uncertainty has risen significantly and persistently since the early 1970s. For example …

with shocks to income and marital status, and lower-income taxpayers are more likely to experience the types of shocks …

Our paper represents the first attempt in the literature to estimate the properties of business income risk from … privately held businesses in the US. Using a new, large, and confidential panel of US income tax returns for the period 1987 …-2009, we extensively document the empirical stylized facts about the evolution of various business income risk measures over …