Recent empirical studies document that the distribution of earnings changes displays substantial deviations from lognormality: in particular, earnings changes are negatively skewed with extremely high kurtosis (long and thick tails), and these non-Gaussian features vary substantially both over...

We here evaluate the link between job insecurity and one of the most-important decisions that individuals take: homeownership. The 1999 rise in the French Delalande tax on firms that laid off older workers produced an unexpected exogenous rise in job insecurity for younger workers. A...