Economics at your fingertips  

Cyclical Dynamics in Idiosyncratic Labor-Market Risks: Evidence From March CPS 1968-2011

Bo Zhao ()

MPRA Paper from University Library of Munich, Germany

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 percent (from .090 to .156) as the macroeconomy moves from peak to trough.

Keywords: Countercyclical; Idiosyncratic risk; Incomplete market model (search for similar items in EconPapers)
JEL-codes: C51 E32 J30 (search for similar items in EconPapers)
Date: 2013-06-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) original version (application/pdf)

Related works:
Journal Article: Cyclical dynamics in idiosyncratic labor-market risks: Evidence from March CPS 1968–2011 (2013) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

Page updated 2023-11-11
Handle: RePEc:pra:mprapa:47548