Guvenen, Fatih; Song, Jae; Karahan, Fatih; Ozkan, Serdar - National Bureau of Economic Research (NBER) - 2015
We study the evolution of individual labor earnings over the life cycle using a large panel data set of earnings histories drawn from U.S. administrative records. Using fully nonparametric methods, our analysis reaches two broad conclusions. First, earnings shocks display substantial deviations...