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amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First … an aggregate shock, and it does so if the distribution features a sufficiently large fraction of households with very …
Persistent link: https://www.econbiz.de/10012989141
amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First … an aggregate shock, and it does so if the distribution features a sufficiently large fraction of households with very …
Persistent link: https://www.econbiz.de/10012456356
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We show that a calibrated life-cycle two-earner household model with endogenous labor supply can rationalize the extent of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and Saporta-Eksten (2016) in U.S. data. With additively...
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