From the peaks to the valleys: Cross-state evidence on income volatility over the business cycle

Review of Economics and Statistics

Volumn 95, Issue 2, 2013, Pages 549-562

  Carey, Colleen ^a   Shore, Stephen H ^b  

^a JOHNS HOPKINS UNIVERSITY   (United States)

^b GEORGIA STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84886008188     PISSN: 00346535     EISSN: 15309142     Source Type: Journal    
DOI: 10.1162/REST_a_00299     Document Type: Article

References (40)

1. Acemoglu, D., and A. Scott, "Asymmetries in the Cyclical Behaviour of UK Labour Markets," Economic Journal 104 (1994), 1303-1323
2. Barlevy, G., "The Cost of Business Cycles Under Endogenous Growth," American Economic Review 94 (2004), 964-990
3. Blanchard, O., and L. Katz, "Regional Evolutions," Brookings Papers on Economic Activity 1 (1992), 1-61
4. Bound, J., and G. Johnson, "Changes in the Structure ofWages in the 1980's: An Evaluation of Alternative Explanations," American Economic Review 82 (1992), 371-392
5. Carroll, C. D., and A. A. Samwick, "The Nature of PrecautionaryWealth," Journal of Monetary Economics 40 (1997), 41-71
6. Casteñeda, A., Díaz-Giménez, J., and J.-V. Ríos-Rull, "Exploring the Income Distribution Business Cycle Dynamics," Journal of Monetary Economics 42 (1998), 93-130
7. Constantinides, G. M., and Duffie, D., "Asset Pricing with Heterogeneous Consumers," Journal of Political Economy 104 (1996), 219-240
8. Crone, T. M., "An Alternative Definition of Economic Regions in the United States Based on Similarities in State Business Cycles," this review 87 (2005), 617-626
9. Davis, S. J., and J. C. Haltiwanger, "Gross Job Creation, Gross Job Destruction, and Employment Reallocation," Quarterly Journal of Economics 113 (1992), 819-863
10. Deaton, A., and C. Paxson, "Intertemporal Choice and Inequality," Journal of Political Economy 102 (1994), 437-467
11. Díaz-Giménez, J., "Uninsured Idiosyncratic Risk, Liquidity Constraints and Aggregate Fluctuations," Economic Theory 10 (1997), 463-482
12. Díaz-Giménez, J., V. Quadrini, and J.-V. Ríos-Rull, "Dimensions of Inequality: Facts on the U.S. Distributions of Earnings, Income, and Wealth," Federal Reserve Bank of Minneapolis Quarterly Review 21 (1997), 3-21
13. Frank, M.W., "Inequality and Growth in the United States: Evidence from aNewState-Level Panel of Income Inequality Measures," Economic Inquiry 47 (2009), 55-68
14. Goldin, C., and L. F. Katz, "Decreasing (and then Increasing) Inequality in America: A Tale of Two Half-Centuries" (pp. 37-82), in Finis Welch (ed.), The Causes and Consequences of Increasing Income Inequality (Chicago: University of Chicago Press, 2001)
15. Goldin, C., and R. A. Margo, "The Great Compression: TheWage Structure of the United States at Midcentury," Quarterly Journal of Economics 107 (1992), 1-34
16. Guvenen, F., "Learning Your Earning: Are Labor Income Shocks Really Very Persistent?" American Economic Review 97 (2007), 687- 712
17. Guvenen, F., "An Empirical Investigation of Labor Income Processes," Review of Economic Dynamics 12 (2009), 58-79
18. Hall, R. E., and F. S. Mishkin, "The Sensitivity of Consumption toTransitory Income: Estimates from Panel Data on Households," Econometrica 50 (1982), 461-481
19. Hamilton, J. D., and M. T. Owyang, "The Propagation of Regional Recessions," Federal Reserve Bank of Saint Louis working paper 2009-013A (2009)
20. Jaimovich, N., and H. E. Siu, "The Young, the Old, and the Restless: Demographics and Business CycleVolatility," American Economic Review 99 (2009), 804-826
21. Katz, L. F., and K. M. Murphy, "Changes in Relative Wages, 1963-1987: Supply and Demand Factors," Quarterly Journal of Economics 107 (1992), 35-78
22. Krebs, T., "Growth and Welfare Effects of Business Cycles in Economies with Idiosyncratic Human Capital Risk," Review of Economic Dynamics 6 (2003), 846-868
23. Krusell, P., T. Mukoyama, A. Sahin, and A. A. Smith, Jr., "Revisiting the Welfare Effects of Business Cycles," Review of Economic Dynamics 12 (2009), 393-402
24. Lucas, Jr., R. E., Models of Business Cycles (New York: Basil Blackwell, 1987)
25. Lucas, Jr., R. E., "Macroeconomic Priorities," American Economic Review 93 (2003), 1-14
26. Malmendier, U., and S. Nagel, "Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?" Quarterly Journal of Economics 126 (2011), 373-416
27. Millard, S., M. Sensier, and A. Scott, "The Labour MarketOver the Business Cycle: Can Theory Fit the Facts?" OxfordReviewof EconomicPolicy 13 (1997), 70-92
28. Miller, D. L., M. E. Page, A. H. Stevens, and M. Filipski, "Why Are Recessions Good for Your Health?" American Economic Review, Papers and Proceedings 99 (2009), 122-127
29. Mukoyama, T., and A. Şahin, "Costs of Business Cycles for Unskilled Workers," Journal of Monetary Economics 53 (2006), 2179-2193
30. Murphy, K. M., and F.Welch, "The Structure ofWages," Quarterly Journal of Economics 107 (1992), 285-326
31. Owyang, M. T., J. Piger, and H. J. Wall, "Business Cycle Phases in U.S States," this review 87 (2005), 604-616
32. Owyang, M. T., D. E. Rapach, and H. J. Wall, "States and the Business Cycle," Journal of Urban Economics 65 (2009), 181-194
33. Rosenbloom, J. A. and W. A. Sundstrom, "The Decline and Rise of Interstate Migration in the United States: Evidence from the IPUMS, 1850-1990," In A. J. Field (ed.), Research in Economic History (Amsterdam: Elsevier, 2004)
34. Ruhm, C. J., "Are Recessions Good for Your Health?" Quarterly Journal of Economics 115 (2000), 617-650
35. Ruhm, C. J., "Good Times Make You Sick," Journal of Health Economics 22 (2003), 637-658
36. Ruhm, C. J., "Healthy Living in Hard Times," Journal of Health Economics 24 (2005), 341-363
37. Ruhm, C. J., "A Healthy Economy Can Break Your Heart," Demography 44 (2007), 829-848
38. Schulhofer-Wohl, S., "Heterogeneous Risk Preferences and the Welfare Cost of Business Cycles," Review of Economic Dynamics 11 (2008), 761-780
39. Storesletten, K., C. I. Telmer, and A. Yaron, "TheWelfare Cost of Business Cycles Revisited: Finite Lives and CyclicalVariation in Idiosyncratic Risk," European Economic Review 45 (2001), 1311-1339
40. Storesletten, K., C. I. Telmer, and A. Yaron, "Cyclical Dynamics in Idiosyncratic Labor Market Risk," Journal of Political Economy 112 (2004), 695-717