aggregate hours worked respond positively to a positive technology shock. Two novel aspects of the analysis are the scope (14 … hours. We show that the short-run response of aggregate hours to a positive technology shock is remarkably similar across …

We decompose permanent earnings risk into contributions from hours and wage shocks. In order to distinguish between … role in explaining the cross-sectional variance in earnings growth, but wage risk has greater relevance. Allowing for hours … shocks improves the model fit considerably. The empirical strategy allows for the estimation of the Marshallian labor supply …

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 …