We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks …-cycle model of consumption and labor supply. Both permanent wage and hours shocks are important to explain earnings risk, but wage … shocks have greater relevance. Progressive taxation strongly attenuates cross-sectional earnings risk, its life …

We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks …-cycle model of consumption and labor supply. Both permanent wage and hours shocks are important to explain earnings risk, but wage … shocks have greater relevance. Progressive taxation strongly attenuates cross-sectional earnings risk, its life …

production. We demonstrate that the presence of labor income risk unambiguously is an important determinant of long-run expected … growth. The issue of dynamic inefficiency of the underlying allocation is related to the size of the risk premium on capital …

Income Dynamics (PSID) für die USA zeigen, dass sowohl Lohn- als auch Stundenshocks eine wichtige Rolle für die Erklärung der …We decompose permanent earnings risk into contributions from hours and wage shocks. In order to distinguish between … our model with the Panel Study of Income Dynamics (PSID) shows that both permanent wage and hours shocks play an important …