It has been shown that a person's relative income - compared to a reference group - has a negative impact on self-reported happiness. This suggests that people who aim at increasing their happiness should try to find a better-paid job if their relative income is low. In this paper we study this...

Job displacement, which is defined as an involuntary loss of job due to economic downturns or structural changes, hit millions of workers each year. According to OECD (2013) 2-7 percent of workers are displaced every year. For Sweden, OECD (2013) reports an average displacement rate of about 2...

During the recent decades, the transformations in the global economy, technology and economic development have stimulated the growth of service sector, especially the growth of producer services at the international level. The producer services support the growth of economy and investment and...

Firms provide substantial insurance against wage fluctuations and job loss. This paper studies how the interaction between shock size and persistence affects the firm’s ability to insure workers against idiosyncratic firm-level shocks. Using linked employer-employee data from Germany, I find...