| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5059508 | Economics Letters | 2013 | 4 Pages |
Abstract
The paper estimates the household labor earning process using the March Current Population Survey 1968-2011. GMM estimates confirm that the results in Storesletten et al. (2004) still hold in a much larger data set over a longer period. The persistent idiosyncratic risk is strongly countercyclical, with an annual auto-correlation equal to .973 and an standard deviation that increases by 72.5% (from .090 to .156) as the macroeconomy moves from peak to trough.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Bo Zhao,