-aged individuals. Understanding the mechanism underlying this observation is key to explaining the volatility of aggregate hours over …

This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In …

1990s and thereafter. U.S. data also show a secular decline in the job destruction rate and the volatility of firm … relationship of job destruction and business volatility to unemployment flows. We find strong evidence that declines in the …

volatility literature, namely its relative neglect of the connection between macroeconomic fundamentals and asset return … volatility. We progress by analyzing a broad international cross section of stock markets covering approximately forty countries …

The remarkable decline in macroeconomic volatility experienced by the U.S. economy since the mid-80s (the so … to identified shocks. Among other changes, our findings point to (i) an increase in the volatility of hours relative to … output, (ii) a shrinking contribution of non-technology shocks to output volatility, and (iii) a change in the cyclical …

We study the effects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over … volatility of hours over the life cycle depends on the value of the intertemporal elasticity of labor supply. When individuals … accumulate skills by on-the-job training, there are only weak effects on both the steady-state labor supply and its volatility …