-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …

, but with increments being smaller in the European data. Third, we find that wage risk is procyclical in Germany while it … household-level wage innovations. We draw our inference from household panel data sets for the US, the UK, and Germany. First … determining the cyclical properties of labor market risk. -- Life-cycle risk ; uncertainty fluctuations ; business cycle …

-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …

; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms ; news shocks ; uncertainty shocks. …

; cross-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks …

uncertainty shock with respect to economies with stricter regulations. Using additional labor ow data from Germany, France and UK …