luxury goods. Moreover, uncertainty reduces household propensity to invest in mutual funds. These results support the notion … that macroeconomic uncertainty can impact household decisions and have large negative effects on economic outcomes …

endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers …

recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using … household survey data from Germany. Second, we build a New Keynesian model with incomplete asset markets and labor market … risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this …

search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

the form of a countercyclical variance of idiosyncratic income risk. The other indirectly emerges over a household's life … aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in …-cycle because retirement savings contain the history of idiosyncratic and aggregate shocks. We show that this leads to risk …

the form of a countercyclical variance of idiosyncratic income risk. The other indirectly emerges over a household's life … aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in …-cycle because retirement savings contain the history of idiosyncratic and aggregate shocks. We show that this leads to risk …

the form of a countercyclical variance of idiosyncratic income risk. The other indirectly emerges over a household's life … aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in …-cycle because retirement savings contain the history of idiosyncratic and aggregate shocks. We show that this leads to risk …

the form of a countercyclical variance of idiosyncratic income risk. The other indirectly emerges over a household's life … aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in …-cycle because retirement savings contain the history of idiosyncratic and aggregate shocks. We show that this leads to risk …