We use administrative data on educational attainments and life-time earnings to study their correlations among Italian twins. Using the ACE decomposition, we find that heritability in education accounts to almost half of the variance, especially for younger birth cohorts. With respect to labour...

Financial markets provide imperfect insurance of labor income risk. However, workers can partly insure against labor market risk by commuting to adjacent regions. Since commuters own wage claims to output produced in adjacent regions, the business cycle in the neighborhood becomes a relevant...

This volume was prepared by Benedikt Heid while he was working at the ifo Institute and the University of Bayreuth. It was completed in December 2013 and accepted as a doctoral thesis by the Department of Economics at the Ludwig-Maximilians-Universität München. It includes six self-contained...

This volume was prepared by Benedikt Heid while he was working at the ifo Institute and the University of Bayreuth. It was completed in December 2013 and accepted as a doctoral thesis by the Department of Economics at the Ludwig-Maximilians-Universität München. It includes six self-contained...

This volume was prepared by Benedikt Heid while he was working at the ifo Institute and the University of Bayreuth. It was completed in December 2013 and accepted as a doctoral thesis by the Department of Economics at the Ludwig-Maximilians-Universität München. It includes six self-contained...

This paper develops a life-cycle model of labour supply that captures endogenous human capital formation allowing for individual's heterogeneous responses to stochastic labour market shocks. The shocks determines conditions in the labour market and sort individuals into three labour market...

We document heterogeneity in the evolution of income growth since the Great Recession. Using administrative data on the incomes of over 7 million households, we estimate the extent to which lower-income households began to catch-up with higher earners in two distinct phases: first, as the labor...

Over the recent decades, wide-spread automation has led to a shift of the US labor force from occupations intensive in routine tasks into occupations intensive in manual and abstract tasks. I integrate routine-biased technological change into an incomplete markets model with occupation-specific...

I build a Heterogeneous Agents New Keynesian model with rich labor market dynamics. Workers search both off- and on-the-job, giving rise to a job ladder, where employed workers slowly move toward more productive and better paying jobs through job-to-job transitions, while negative shocks...

The paper investigates the links between homeownership, employment and earnings for which no consensus exists in the literature. Our analysis is cast within a dynamic setting and the endogeneity of each outcome is assessed through the estimation of a flexible panel multivariate model with random...