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-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand … for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill …
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Smoother labor incomes alleviate credit constraints by reducing workers' desire to borrow, and prospects of upward income mobility have smaller beneficial effects for currently poor workers when borrowing constraints are binding. These simple theoretical insights are consistent with the...
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regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …
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