shock. Firm‐specific shocks are important for wages given the variation in within‐firm productivity and the patterns of …

end of the shock distribution collapses -- large upward earnings movements become less likely -- whereas the bottom end …

end of the shock distribution collapses--large upward income movements become less likely--whereas the bottom end expands …This paper studies the cyclical nature of individual income risk using a confidential dataset from the U.S. Social … individual income growth during recessions into "between-group" and "within-group" components. We begin with the behavior of …