theory of precautionary savings and to quantify the importance of self-selection into occupations due to differences in risk … aversion. In the presence of self-selection, failing to control for risk aversion in empirical tests of precautionary savings … results in a bias that could lead to a false rejection of the theory. We exploit the fact that for individuals from the former …

alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is …The saving ratio of households in Germany has increased in the past few years when the income trend was weak. This … could be due to precautionary saving. In this paper, the importance of precautionary saving against income uncertainty is …

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 … show that in a standard incomplete-markets life-cycle model, first, higher-order risk has sizable welfare implications …

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 … show that in a standard incomplete-markets life-cycle model, first, higher-order risk has sizable welfare implications …

This paper analyses how increased offshoring impacts on labor income risk. It is therefore distinct from a large number … variability of incomes. It provides an assessment that directly connects labor income risk and offshoring trends in a panel …. Permanent income risk is defined as variance of shocks to income that do not fade out over time. Contrary to transitory short …

This paper analyses how increased offshoring impacts on labor income risk. It is therefore distinct from a large number … variability of incomes. It provides an assessment that directly connects labor income risk and offshoring trends in a panel …. Permanent income risk is defined as variance of shocks to income that do not fade out over time. Contrary to transitory short …

This paper analyzes the impact increased offshoring has on labor income risk. It is therefore distinct from a large … second moments, i.e. the variance of incomes. It provides an assessment that directly connects labor income risk and …. Permanent income risk is defined as variance of shocks to income that do not fade out over time and are assumed to be not self …

risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this … recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using …

alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is …The saving ratio of households in Germany has increased in the past few years when the income trend was weak. This … could be due to precautionary saving. In this paper, the importance of precautionary saving against income uncertainty is …