This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual …

This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual …

This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual …

monthly frequency of regular wage adjustments almost doubled, while the distribution of changes in regular wages morphed from …

standardized individual wages. In particular, a heteroskedastic autoregressive model with multiple individual fixed effects is … proposed. The expression for a modified likelihood function is obtained for estimation and inference in a fixed-T context …. Using a bias-corrected likelihood approach makes it possible to reduce the estimation bias to a term of order 1/T². The …