Storesletten, Kjetil; Telmer, Chris; Yaron, Amir - 2011
Is individual labor income more risky in recessions? This is a difficult question to answer because existing panel data … macroeconomic history that each member of the panel has experienced. Variation in the cross-sectional variance between households … our data do not begin until 1968. We implement this estimator using household-level labor earnings data from the Panel …