Search Results

SORT BY: PREVIOUS / NEXT
Keywords:Labor-Market Uncertainty 

Report
Workers’ Perceptions of Earnings Growth and Employment Risk

In addition to realized earnings and employment shocks, forward-looking individuals are presumed to condition their consumption and labor supply decisions on their subjective beliefs about future labor market risks. This paper uses rich panel data to document considerable individual heterogeneity in earnings growth expectations and in the perceived likelihood of voluntary and involuntary job exits. We examine how expectations evolve over the working life and business cycle, and how they co-vary with macroeconomic expectations and personal experiences. While largely consistent with patterns in ...
Staff Reports , Paper 1056

Working Paper
Labor-Market Uncertainty and Portfolio Choice Puzzles

The standard theory of household-portfolio choice is hard to reconcile with the following facts: (i) Households hold a small amount of equity despite the higher average rate of return. (ii) The share of risky assets increases with the age of the household. (iii) The share of risky assets is disproportionately larger for richer households. We develop a life-cycle model with age-dependent unemployment risk and gradual learning about the income profile that can address all three puzzles. Young workers, on average asset poor, face larger labor-market uncertainty because of high unemployment risk ...
Working Paper , Paper 14-13

FILTER BY year

FILTER BY Series

FILTER BY Content Type

Report 1 items

Working Paper 1 items

FILTER BY Jel Classification

C23 1 items

D12 1 items

D81 1 items

D84 1 items

J31 1 items

J6 1 items

show more (2)

FILTER BY Keywords

Labor-Market Uncertainty 2 items

Learning 1 items

Portfolio Choice 1 items

beliefs 1 items

expectations data 1 items

household surveys 1 items

show more (1)

PREVIOUS / NEXT