Modeling life-cycle earnings risk with positive and negative shocks

Sánchez, Manuel; Wellschmied, Félix

Modeling life-cycle earnings risk with positive and negative shocks

Autor(es): Sánchez, Manuel; Wellschmied, Félix

Editorial: Elsevier

Fecha de edición: 2020-07-01

Cita: Sanchez, M., & Wellschmied, F. (2020). Modeling life-cycle earnings risk with positive and negative shocks. Review of Economic Dynamics, 37, pp. 103-126.

ISSN: 1094-2025

DOI: https://doi.org/10.1016/j.red.2019.11.003

Patrocinador: Ministerio de Economía y Competitividad (España)
Comunidad de Madrid

Agradecimientos: This paper uses the Sample of Integrated Labour Market Biographies-Regional File 1975-2010, SIAB R 7510. The data was provided via the Cornell Restricted Access Data Center, previous authorization of the Research Data Center of the German Federal Employment Agency at the Institute for Employment Research, under the project 'Labour Income Profiles are not heterogeneous: a European test'. Felix Wellschmied gratefully acknowledges support from the Spanish Ministry of Economics through research grants ECO2014-56384-P, MDM 2014-0431, and Comunidad de Madrid MadEco-CM (S2015/HUM-3444).

Proyecto: Gobierno de España. ECO2014-56384-P
Gobierno de España. MDM-2014-0431
Comunidad de Madrid. S2015/HUM-3444

Palabras clave: Life-cycle , Earnings risk , Wealth dispersion , Consumption inequality

URI: http://hdl.handle.net/10016/34490

Derechos: ©2020 Elsevier
Atribución-NoComercial-SinDerivadas 3.0 España

Resumen:

We estimate explicit age-varying distributions of idiosyncratic persistent and transitory earnings shocks over workers' life-cycles using a German administrative data set. Large positive shocks, both transitory and persistent, are characteristic for the fi [+]

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