increased risk that they encounter a sharp fall in their wages. People who tend to be particularly affected are the low … measures that aim to avoid credit overexpansion are two policies that can improve the links of private debt with labour income … growth and risk. Overall, the evidence in this paper points to finance as one factor behind wage stagnation and the social …

This paper documents the role of unemployment and earnings risk in reconciling evidence in payoff differentials between … the role of lower unemployment risk in self-employment. We decompose earnings risk dynamics by estimating a life … throughout their life-cycle. Our results challenge the conventional view that self-employment necessarily entails higher risk and …

normality. For the bottom earners, large income changes are driven equally by hours and wages which is consistent with …This paper documents earnings dynamics over the life-cycle and income level using a large administrative database from …, there is no evidence of an added-worker effect but government insurance and income pooling can mitigate the pass-through of …

ein negativer Interaktionseffekt. Der marginale Effekt des Einkommensrisikos auf den Lohn ist positiv. Der marginale …

wage risks and shows the risk of old-age poverty in Germany. After a short introduction, the effects of income and … unemployment risks on individual wages are analyzed in chapter 2. Building on a portfolio model for the labor market, the effects … also a negative interaction effect. The marginal effect of the income risk is positive. However, the marginal effect of the …

response functions of earnings shocks and find important asymmetries: Positive shocks to high-income individuals are quite … transitory, whereas negative shocks are very persistent; the opposite is true for low-income individuals. Finally, we use these …

, we estimate nonparametric impulse response functions and find important asymmetries: positive changes for high-income … individuals are quite transitory, whereas negative ones are very persistent; the opposite is true for low-income individuals …

cyclicality of hourly wages is muted, suggesting that head's labor income risk is mainly coming from the volatility of hours …We investigate cyclicality of variance and skewness of household labor income risk using PSID data. There are five main … volatility of household labor income risk. Meanwhile, government taxes and transfers are found to mitigate the level and …

cyclicality of hourly wages is muted, suggesting that head's labor income risk is mainly coming from the volatility of hours …We investigate cyclicality of variance and skewness of household labor income risk using PSID data. There are five main … volatility of household labor income risk. Meanwhile, government taxes and transfers are found to mitigate the level and …