| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15395 |
| DP15395 Dissecting Idiosyncratic Earnings Risk | |
| Elin Halvorsen; Hans Holter; Serdar Ozkan; Kjetil Storesletten | |
| 发表日期 | 2020-10-21 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper examines whether nonlinear and non-Gaussian features of earnings dynamics are caused by hours or hourly wages. Our findings from the Norwegian administrative and survey data are as follows: (i) Nonlinear mean reversion in earnings is driven by the dynamics of hours worked rather than wages since wage dynamics are close to linear while negative changes to hours are transitory and positive changes are persistent. (ii) Large earnings changes are driven equally by hours and wages, whereas small changes are associated mainly with wage shocks. (iii) Both wages and hours contribute to negative skewness and high kurtosis for earnings changes, although hour-wage interactions are quantitatively more important. (iv) When considering household earnings and disposable household income, the deviations from normality are mitigated relative to individual labor earnings: changes in disposable household income are close to symmetric and less leptokurtic. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Earnings dynamics Income shocks Insurance Wages Hours Higher-order earnings risk Skewness Kurtosis |
| URL | https://cepr.org/publications/dp15395 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544381 |
| 推荐引用方式 GB/T 7714 | Elin Halvorsen,Hans Holter,Serdar Ozkan,et al. DP15395 Dissecting Idiosyncratic Earnings Risk. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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