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The economic security index: A new measure for research and policy analysis
Hacker, Jacob S.; Huber, Gregory Alain; Nichols, Austin; … - 2012
combining data from multiple surveys, we create an integrated measure of volatility in available household resources, accounting …
Persistent link: https://www.econbiz.de/10010289981
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Flexibility at the margin and labor market volatility in OECD countries
Sala, Héctor; Silva, José Ignacio; Toledo, Manuel E. - 2008
achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …
Persistent link: https://www.econbiz.de/10010276682
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Uncertainty and the politics of employment protection
Vindigni, Andrea - 2008
This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
Persistent link: https://www.econbiz.de/10010268688
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Exponent of cross-sectional dependence: Estimation and inference
Bailey, Natalia; Kapetanios, George; Pesaran, Hashem - 2012
An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...
Persistent link: https://www.econbiz.de/10010282124
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Growth, volatility and political instability: non-linear time-series evidence for Argentina, 1896 - 2000
Campos, Nauro F.; Karanasos, Menelaos G. - 2007
What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …
Persistent link: https://www.econbiz.de/10010268236
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Modelling heterogeneity and dynamics in the volatility of individual wages
Hospido, Laura - 2010
This paper presents a model for the heterogeneity and dynamics of the conditional mean and the conditional variance of standardized individual wages. In particular, a heteroskedastic autoregressive model with multiple individual fixed effects is proposed. The expression for a modified likelihood...
Persistent link: https://www.econbiz.de/10010269628
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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2008
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …
Persistent link: https://www.econbiz.de/10010270804
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Housing mobility and downsizing at older ages in Britain and the United States
Banks, James; Blundell, Richard; Oldfield, Zoë; Smith, … - 2010
This paper investigates the effects of housing price risk on housing choices over the lifecycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10010274602
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House price volatility and the housing ladder
Banks, James; Blundell, Richard; Oldfield, Zoë; Smith, … - 2010
This paper investigates the effects of housing price risk on housing choices over the lifecycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10010274692
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Earnings instability of job stayers and job changers
Leonardi, Marco - 2003
I use the PSID to decompose the rise in wage inequality into a permanent and a transitory component. I consider separately job stayers and job changers. I find that earnings instability (the variance of the transitory component of earnings) increased much more among job changers than among job...
Persistent link: https://www.econbiz.de/10010261646