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Asymmetries in earnings, employment and wage risk in Great Britain

Konstantinos Angelopoulos, Spyridon Lazarakis and Jim Malley ()

Working Papers from Business School - Economics, University of Glasgow

Abstract: This paper examines the relationship between idiosyncratic earn- ings, employment and wage risk and fluctuations in aggregate labour market quantities for Great Britain. We use data from the British Household Panel Survey (BHPS) for 1991-2008 and from the BHPS sub-sample of Understanding Society for 2010-2014. We measure idio- syncratic risk by the relevant moments of the distribution of earnings, employment and wage shocks across individuals. Our main finding is that each of these measures of idiosyncratic labour income risk re- spond asymmetrically to fluctuations in the labour market aggregates. Furthermore, we find evidence of insurance, both within the household and in the form of public insurance.

Keywords: Idiosyncratic income risk; employment; social insurance policy (search for similar items in EconPapers)
JEL-codes: D31 E24 J31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eur, nep-ias, nep-lma and nep-mac
Date: 2017-02
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Working Paper: Asymmetries in Earnings, Employment and Wage Risk in Great Britain (2017) Downloads
Working Paper: Asymmetries in Earnings, Employment and Wage Risk in Great Britain (2017) Downloads
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