their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. …

their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. …

We extend the canonical income process with persistent and transitory risk to shock distributions with left …-skewness and excess kurtosis, to which we refer as higherorder risk. We estimate our extended income process by GMM for household … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …

We extend the canonical income process with persistent and transitory risk to shock distributions with left …-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …

administrative data reveals that the reform led to more apprentices in German firms despite a decrease in apprentice wages. This can … apprentices; setting lower wages is possible because of a rising supply of apprentices owing to substantially improved employment …