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Accounting for idiosyncratic wage risk over the business cycle

Tamas Papp and Alisdair McKay ()
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Tamas Papp: Institute for Advanced Studies

No 820, 2012 Meeting Papers from Society for Economic Dynamics

Abstract: We show that a parsimoniously calibrated search-and-matching model of the labor market with on-the-job search gives a good account of the cyclical variation in idiosyncratic wage risk among those experiencing unemployment and of the composition effect over the business cycle. As these components generate around 80% of the total, we argue that such a model gives a good account of cyclical variation in idiosyncratic wage risk.

New Economics Papers: this item is included in nep-dge
Date: 2012
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https://economicdynamics.org/meetpapers/2012/paper_820.pdf (application/pdf)

Related works:
Working Paper: Accounting for Idiosyncratic Wage Risk Over the Business Cycle (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed012:820

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More papers in 2012 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
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