Weakening bargaining power of unions and the increasing integration of the world economy may affect the volatility of … capital and labor incomes. This paper documents and explains changes in income volatility. Using a theoretical framework which … builds distribution risk into a real business cycle model, hypotheses on the determinants of the relative volatility of …

for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill … volatility of employment, and this effect is strongest for low-skilled workers. A higher share of low-skilled employment has a … dampening impact. -- labor-market volatility ; skill levels ; financial globalization …

volatility depends on the nature of the underlying shock. Empirical evidence supports this conclusion. Our results also show that … the link between business cycle volatility and financial openness has not been stable over time. …

Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and … structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …

Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper …, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial … openness, we find some evidence that greater financial openness has been associated with lower consumption volatility. However …