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 …

paper shows that UI extensions at age thresholds reduced reemployment wages of job searchers in Germany. The UI extensions …This paper provides quasi-experimental estimates of the causal effect of long-term unemployment on wages. Using … standard job search theory, the paper derives and tests conditions on reemployment wages under which Unemployment Insurance (UI …

. The estimation of key parameters uses a simulated method of moments approach to match moments related to asset market … estimation are used to characterize the distributions of the marginal propensity to consume across households for each of the … policy-induced variations in stock returns. Finally, monetary contractions have a larger impact on consumption in Germany and …

In this paper, we empirically assess the causal links between trade and individual income risk and study the role that … human capital plays in this relationship using a rich, worker-level, longitudinal data set from Germany spanning 1976 to … 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry cohorts and …

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 …