profile to implicitly borrow from their workers. We find that firms located in less financially developed markets offer wages …

The magnitude of and heterogeneity in systematic earnings risk has important implications for various theories in macro …, labor, and financial economics. Using administrative data, we document how the aggregate risk exposure of individual … earnings to GDP and stock returns varies across gender, age, the worker's earnings level, and industry. Aggregate risk exposure …

Italy that combines Social Security earnings records for employees with detailed financial information for employers to … strong evidence of rent-sharing, with a "Lester range" of variation in wages between profitable and unprofitable firms of …

This paper analyzes the importance of household perceptions of house price risk in explaining homeownership choice … perceive housing as risky. Risk perceptions vary across demographic groups, but significant differences persist after … rent are strongly correlated with perceptions of house price risk. Households' exposure to housing risk due to financial …

households so housing market risk actually increases homeownership rates and house prices. Further, the net effect of rent risk … volatility rises and the discounted house price risk falls. Using CPS data, the difference in the probability of homeownership …Many people assume that the most significant risk in the housing market is that homeowners are exposed to fluctuations …

Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … idiosyncratic wage risk, we provide an analytical characterization of three welfare effects: (a) the welfare effect of a rise in … wage dispersion, (b) the welfare gain from completing markets, and (c) the welfare effect from eliminating risk. Our …

is intractable. In this note we prove this comparative static result on risk aversion and wages in general equilibrium …One of the leading theories of entrepreneurship is that less risk averse individuals become entrepreneurs and more risk … comparative static result, that an economy-wide increase in risk aversion lowers the equilibrium wage, appeared to require the …