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

financially constrained offer an increasing wage profile: They pay lower wages today in exchange of higher wages once they become … unconstrained and operate at a larger scale. In equilibrium, constrained firms are on average smaller and pay lower wages. In this … way the model generates a positive relation between firm size and wages. Using data from the National Longitudinal Survey …

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 …

associated with a stronger relationship between premiums and local disaster risk: A one standard-deviation increase in disaster … risk is associated with $500 higher premiums in 2023, up from $300 in 2018. Second, using the rapid rise in reinsurance … prices as a natural experiment, we show that the increase in the risk-to-premium gradient was largely caused by the pass …