an island dispute between China and Japan in 2012. Our difference-in-differences (DID) estimation substantiates that a … their beliefs and start tail risk hedging. …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … rather than wages, at odds with the quantitative predictions of the canonical search model - even if wages are only … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

In this paper we use administrative data from the social security to study income dynamics and income risk inequality … in Spain between 2005 and 2018. We construct individual measures of income risk as functions of past employment history …, income, and demographics. Focusing on males, we document that income risk is highly unequal in Spain: more than half of the …

We develop an endogenous growth model to study the long run consequences of offshoring with firm heterogeneity and … incomplete contracts. In so doing, we model offshoring as the geographical fragmentation of a firm's production chain between a … possibility of offshoring has favorable implications for economic growth. Yet, offshoring induced by a higher bargaining power of …

risk and markets are incomplete. A key feature of our model is that, in line with an established empirical literature, job …