메뉴 건너뛰기




Volumn 82, Issue 6, 2014, Pages 2085-2129

Inferring Labor Income Risk and Partial Insurance From Economic Choices

Author keywords

Heterogeneous income profiles; Idiosyncratic shocks; Indirect inference estimation; Labor income risk; Partial insurance; Persistence

Indexed keywords


EID: 84919644350     PISSN: 00129682     EISSN: 14680262     Source Type: Journal    
DOI: 10.3982/ECTA9446     Document Type: Article
Times cited : (130)

References (38)
  • 1
    • 84879153355 scopus 로고    scopus 로고
    • Deconstructing Lifecycle Expenditure
    • Aguiar, M., and E. Hurst (2013): "Deconstructing Lifecycle Expenditure, " Journal of Political Economy, 121 (3), 437-492. 10.1086/670740
    • (2013) Journal of Political Economy , vol.121 , Issue.3 , pp. 437-492
    • Aguiar, M.1    Hurst, E.2
  • 2
    • 0000236869 scopus 로고
    • Household Choices in Equilibrium
    • Altug, S., and R. A. Miller (1990): "Household Choices in Equilibrium, " Econometrica, 58 (3), 543-570. 10.2307/2938190
    • (1990) Econometrica , vol.58 , Issue.3 , pp. 543-570
    • Altug, S.1    Miller, R.A.2
  • 3
    • 84896767538 scopus 로고    scopus 로고
    • Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics
    • (forthcoming).
    • Bagger, J., F. Fontaine, F. Postel-Vinay, and J.-M. Robin (2014): "Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics, " American Economic Review (forthcoming).
    • (2014) American Economic Review
    • Bagger, J.1    Fontaine, F.2    Postel-Vinay, F.3    Robin, J.-M.4
  • 4
    • 34548530448 scopus 로고    scopus 로고
    • Rational Pessimism, Rational Exuberance, and Asset Pricing Models
    • Bansal, R., A. R. Gallant, and G. Tauchen (2007): "Rational Pessimism, Rational Exuberance, and Asset Pricing Models, " Review of Economic Studies, 74 (4), 1005-1033. 10.1111/j.1467-937X.2007.00454.x
    • (2007) Review of Economic Studies , vol.74 , Issue.4 , pp. 1005-1033
    • Bansal, R.1    Gallant, A.R.2    Tauchen, G.3
  • 5
    • 84919618158 scopus 로고    scopus 로고
    • Life Tables for the United States Social Security Area: 1900-2100," Actuarial Study 116, Office of the Actuary, Social Security Administration.
    • Bell, F. C., and M. L. Miller (2002): "Life Tables for the United States Social Security Area: 1900-2100, " Actuarial Study 116, Office of the Actuary, Social Security Administration.
    • (2002)
    • Bell, F.C.1    Miller, M.L.2
  • 6
    • 0000805502 scopus 로고
    • The Production of Human Capital and the Life Cycle of Earnings
    • Ben-Porath, Y. (1967): "The Production of Human Capital and the Life Cycle of Earnings, " Journal of Political Economy, 75 (4), 352-365. 10.1086/259291
    • (1967) Journal of Political Economy , vol.75 , Issue.4 , pp. 352-365
    • Ben-Porath, Y.1
  • 7
    • 0040944384 scopus 로고    scopus 로고
    • Consumption Inequality and Income Uncertainty
    • Blundell, R., and I. Preston (1998): "Consumption Inequality and Income Uncertainty, " Quarterly Journal of Economics, 113 (2), 603-640. 10.1162/003355398555694
    • (1998) Quarterly Journal of Economics , vol.113 , Issue.2 , pp. 603-640
    • Blundell, R.1    Preston, I.2
  • 8
    • 84919618157 scopus 로고    scopus 로고
    • Imputing Consumption in the PSID Using Food Demand Estimates From the CEX," Working Paper W04/27.
    • Blundell, R., L. Pistaferri, and I. Preston (2006): "Imputing Consumption in the PSID Using Food Demand Estimates From the CEX, " Working Paper W04/27.
    • (2006)
    • Blundell, R.1    Pistaferri, L.2    Preston, I.3
  • 9
    • 44149091631 scopus 로고    scopus 로고
    • Consumption Inequality and Partial Insurance
    • Blundell, R., L. Pistaferri, and I. Preston (2008): "Consumption Inequality and Partial Insurance, " American Economic Review, 98 (5), 1887-1921. 10.1257/aer.98.5.1887
    • (2008) American Economic Review , vol.98 , Issue.5 , pp. 1887-1921
    • Blundell, R.1    Pistaferri, L.2    Preston, I.3
  • 10
    • 84877891698 scopus 로고    scopus 로고
    • Demand Fluctuations in the Ready-Mix Concrete Industry
    • Collard-Wexler, A. (2013): "Demand Fluctuations in the Ready-Mix Concrete Industry, " Econometrica, 81 (3), 1003-1037. 10.3982/ECTA6877
    • (2013) Econometrica , vol.81 , Issue.3 , pp. 1003-1037
    • Collard-Wexler, A.1
  • 11
    • 0001517908 scopus 로고
    • Saving and Liquidity Constraints
    • Deaton, A. (1991): "Saving and Liquidity Constraints, " Econometrica, 59 (5), 1221-1248. 10.2307/2938366
    • (1991) Econometrica , vol.59 , Issue.5 , pp. 1221-1248
    • Deaton, A.1
  • 12
    • 0028588795 scopus 로고
    • Intertemporal Choice and Inequality
    • Deaton, A., and C. Paxson (1994): "Intertemporal Choice and Inequality, " Journal of Political Economy, 102 (3), 437-467. 10.1086/261941
    • (1994) Journal of Political Economy , vol.102 , Issue.3 , pp. 437-467
    • Deaton, A.1    Paxson, C.2
  • 14
    • 0036219398 scopus 로고    scopus 로고
    • Consumption Over the Life Cycle
    • Gourinchas, P.-O., and J. A. Parker (2002): "Consumption Over the Life Cycle, " Econometrica, 70 (1), 47-89. 10.1111/1468-0262.00269
    • (2002) Econometrica , vol.70 , Issue.1 , pp. 47-89
    • Gourinchas, P.-O.1    Parker, J.A.2
  • 15
    • 34547325303 scopus 로고    scopus 로고
    • Learning Your Earning: Are Labor Income Shocks Really Very Persistent?
    • Guvenen, F. (2007): "Learning Your Earning: Are Labor Income Shocks Really Very Persistent?" American Economic Review, 97 (3), 687-712. 10.1257/aer.97.3.687
    • (2007) American Economic Review , vol.97 , Issue.3 , pp. 687-712
    • Guvenen, F.1
  • 16
    • 56949084755 scopus 로고    scopus 로고
    • An Empirical Investigation of Labor Income Processes
    • Guvenen, F. (2009): "An Empirical Investigation of Labor Income Processes, " Review of Economic Dynamics, 12 (1), 58-79. 10.1016/j.red.2008.06.004
    • (2009) Review of Economic Dynamics , vol.12 , Issue.1 , pp. 58-79
    • Guvenen, F.1
  • 17
    • 77649148799 scopus 로고    scopus 로고
    • A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000
    • Chicago: University of Chicago Press
    • Guvenen, F., and B. Kuruscu (2010): "A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000, " in NBER Macroeconomics Annual 2009, Vol. 24. Chicago: University of Chicago Press, 227-276.
    • (2010) NBER Macroeconomics Annual 2009 , vol.24 , pp. 227-276
    • Guvenen, F.1    Kuruscu, B.2
  • 18
    • 84919644350 scopus 로고    scopus 로고
    • Supplement to 'Inferring Labor Income Risk and Partial Insurance From Economic Choices'," Econometrica Supplemental Material
    • Guvenen, F., and A. A. Smith, Jr. (2014): "Supplement to 'Inferring Labor Income Risk and Partial Insurance From Economic Choices', " Econometrica Supplemental Material, 82, http://dx.doi.org/10.3982/ECTA9446.
    • (2014) , vol.82
    • Guvenen, F.1    Smith Jr, A.A.2
  • 19
    • 84919618155 scopus 로고    scopus 로고
    • What Do Data on Millions of U.S. Workers Reveal About Labor Income Risk?" Working Paper, University of Minnesota.
    • Guvenen, F., F. Karahan, S. Ozkan, and J. Song (2014): "What Do Data on Millions of U.S. Workers Reveal About Labor Income Risk?" Working Paper, University of Minnesota.
    • (2014)
    • Guvenen, F.1    Karahan, F.2    Ozkan, S.3    Song, J.4
  • 20
    • 0000155749 scopus 로고
    • Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence
    • Hall, R. E. (1978): "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence, " Journal of Political Economy, 86 (6), 971-987. 10.1086/260724
    • (1978) Journal of Political Economy , vol.86 , Issue.6 , pp. 971-987
    • Hall, R.E.1
  • 21
    • 0001075117 scopus 로고
    • The Sensitivity of Consumption to Transitory Income: Estimates From Panel Data on Households
    • Hall, R. E., and F. S. Mishkin (1982): "The Sensitivity of Consumption to Transitory Income: Estimates From Panel Data on Households, " Econometrica, 50 (2), 461-481. 10.2307/1912638
    • (1982) Econometrica , vol.50 , Issue.2 , pp. 461-481
    • Hall, R.E.1    Mishkin, F.S.2
  • 22
    • 0030367508 scopus 로고    scopus 로고
    • Risk-Sharing Between and Within Families
    • Hayashi, F., J. Altonji, and L. Kotlikoff (1996): "Risk-Sharing Between and Within Families, " Econometrica, 64 (2), 261-294. 10.2307/2171783
    • (1996) Econometrica , vol.64 , Issue.2 , pp. 261-294
    • Hayashi, F.1    Altonji, J.2    Kotlikoff, L.3
  • 23
    • 72249087571 scopus 로고    scopus 로고
    • Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006
    • Heathcote, J., F. Perri, and G. L. Violante (2010): "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006, " Review of Economic Dynamics, 13 (1), 15-51. 10.1016/j.red.2009.10.010
    • (2010) Review of Economic Dynamics , vol.13 , Issue.1 , pp. 15-51
    • Heathcote, J.1    Perri, F.2    Violante, G.L.3
  • 24
    • 84904430754 scopus 로고    scopus 로고
    • Consumption and Labor Supply With Partial Insurance: An Analytical Framework
    • (forthcoming).
    • Heathcote, J., K. Storesletten, and G. L. Violante (2014): "Consumption and Labor Supply With Partial Insurance: An Analytical Framework, " American Economic Review (forthcoming).
    • (2014) American Economic Review
    • Heathcote, J.1    Storesletten, K.2    Violante, G.L.3
  • 25
    • 83755185511 scopus 로고    scopus 로고
    • Sources of Lifetime Inequality
    • Huggett, M., G. Ventura, and A. Yaron (2011): "Sources of Lifetime Inequality, " American Economic Review, 101 (7), 2923-2954. 10.1257/aer.101.7.2923
    • (2011) American Economic Review , vol.101 , Issue.7 , pp. 2923-2954
    • Huggett, M.1    Ventura, G.2    Yaron, A.3
  • 26
    • 84879187085 scopus 로고    scopus 로고
    • Inequality and the Life Cycle
    • Kaplan, G. (2012): "Inequality and the Life Cycle, " Quantitative Economics, 3 (3), 471-525. 10.3982/QE200
    • (2012) Quantitative Economics , vol.3 , Issue.3 , pp. 471-525
    • Kaplan, G.1
  • 28
    • 73849116798 scopus 로고    scopus 로고
    • Disentangling Insurance and Information in Intertemporal Consumption Choice
    • Kauffmann, K., and L. Pistaferri (2009): "Disentangling Insurance and Information in Intertemporal Consumption Choice, " American Economic Review: Papers and Proceedings, 99 (2), 387-392. 10.1257/aer.99.2.387
    • (2009) American Economic Review: Papers and Proceedings , vol.99 , Issue.2 , pp. 387-392
    • Kauffmann, K.1    Pistaferri, L.2
  • 29
    • 84919618154 scopus 로고    scopus 로고
    • How Do Households Respond to Income Shocks?" Technical Report, University of Minnesota.
    • Krueger, D., and F. Perri (2009): "How Do Households Respond to Income Shocks?" Technical Report, University of Minnesota.
    • (2009)
    • Krueger, D.1    Perri, F.2
  • 30
    • 84859885167 scopus 로고    scopus 로고
    • Indirect Inference in Structural Econometric Models
    • Li, T. (2010): "Indirect Inference in Structural Econometric Models, " Journal of Econometrics, 157 (1), 120-128. 10.1016/j.jeconom.2009.10.027
    • (2010) Journal of Econometrics , vol.157 , Issue.1 , pp. 120-128
    • Li, T.1
  • 31
    • 84919618153 scopus 로고    scopus 로고
    • Disability Insurance and the Dynamics of the Incentive-Insurance Tradeoff," Technical Report, Stanford University.
    • Low, H., and L. Pistaferri (2012): "Disability Insurance and the Dynamics of the Incentive-Insurance Tradeoff, " Technical Report, Stanford University.
    • (2012)
    • Low, H.1    Pistaferri, L.2
  • 32
    • 84983846851 scopus 로고
    • Analysing Incomplete Individual Employment Histories Using Indirect Inference
    • Magnac, T., J.-M. Robin, and M. Visser (1995): "Analysing Incomplete Individual Employment Histories Using Indirect Inference, " Journal of Applied Econometrics, 10, S153-S169. 10.1002/jae.3950100509
    • (1995) Journal of Applied Econometrics , vol.10 , pp. S153-S169
    • Magnac, T.1    Robin, J.-M.2    Visser, M.3
  • 33
    • 33947678649 scopus 로고    scopus 로고
    • Learning by Doing vs. Learning About Match Quality: Can We Tell Them Apart?
    • Nagypal, E. (2007): "Learning by Doing vs. Learning About Match Quality: Can We Tell Them Apart?" Review of Economic Studies, 74 (2), 537-566. 10.1111/j.1467-937X.2007.00430.x
    • (2007) Review of Economic Studies , vol.74 , Issue.2 , pp. 537-566
    • Nagypal, E.1
  • 34
    • 59749098206 scopus 로고    scopus 로고
    • Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality
    • Primiceri, G. E., and T. van Rens (2009): "Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality, " Journal of Monetary Economics, 56 (1), 20-39. 10.1016/j.jmoneco.2008.10.001
    • (2009) Journal of Monetary Economics , vol.56 , Issue.1 , pp. 20-39
    • Primiceri, G.E.1    van Rens, T.2
  • 35
    • 0006172688 scopus 로고
    • Rational Expectations, Econometric Exogeneity, and Consumption
    • Sargent, T. J. (1978): "Rational Expectations, Econometric Exogeneity, and Consumption, " Journal of Political Economy, 86 (4), 673-700. 10.1086/260704
    • (1978) Journal of Political Economy , vol.86 , Issue.4 , pp. 673-700
    • Sargent, T.J.1
  • 36
    • 84986413049 scopus 로고
    • Estimating Nonlinear Time-Series Models Using Simulated Vector Autoregressions
    • Smith, A. A. (1993): "Estimating Nonlinear Time-Series Models Using Simulated Vector Autoregressions, " Journal of Applied Econometrics, 8, S63-S84. 10.1002/jae.3950080506
    • (1993) Journal of Applied Econometrics , vol.8 , pp. S63-S84
    • Smith, A.A.1
  • 37
    • 1642600836 scopus 로고    scopus 로고
    • Cyclical Dynamics in Idiosyncratic Labor Market Risk
    • Storesletten, K., C. I. Telmer, and A. Yaron (2004a): "Cyclical Dynamics in Idiosyncratic Labor Market Risk, " Journal of Political Economy, 112 (3), 695-717. 10.1086/383105
    • (2004) Journal of Political Economy , vol.112 , Issue.3 , pp. 695-717
    • Storesletten, K.1    Telmer, C.I.2    Yaron, A.3
  • 38
    • 1642603395 scopus 로고    scopus 로고
    • Consumption and Risk Sharing Over the Life Cycle
    • Storesletten, K., C. I. Telmer, and A. Yaron (2004b): "Consumption and Risk Sharing Over the Life Cycle, " Journal of Monetary Economics, 51 (3), 609-633. 10.1016/j.jmoneco.2003.06.005
    • (2004) Journal of Monetary Economics , vol.51 , Issue.3 , pp. 609-633
    • Storesletten, K.1    Telmer, C.I.2    Yaron, A.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.