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volatility that are collectively referred to as the quot;Great Moderation.quot; About half of the decline in earnings growth … variability can be explained by changes in the age, sex, and education composition of the workforce. The decline in volatility …
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industry-specific shipment volatility, to address some empirical anomalies found in the literature. I find that risk premiums … for the risk of unemployment range from 8.5 to 19 percent when the covariance between shipment volatility and total …
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This paper presents a model for the heterogeneity and dynamics of the conditional mean and the conditional variance of standardized individual wages. In particular, a heteroskedastic autoregressive model with multiple individual fixed effects is proposed. The expression for a modified likelihood...
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