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DCフィールド | 値 | 言語 |
---|---|---|
dc.contributor.author | Takahashi, Shuhei | en |
dc.date.accessioned | 2015-01-13T01:48:49Z | - |
dc.date.available | 2015-01-13T01:48:49Z | - |
dc.date.issued | 2015-01 | - |
dc.identifier.uri | http://hdl.handle.net/2433/192944 | - |
dc.description | Revised: January 2017 | en |
dc.description.abstract | Idiosyncratic wage risk exhibits cyclical variation. The present paper analyzes how such risk fluctuations affect business cycles using a heterogeneous-agent model with uninsured idiosyncratic wage risk and indivisible labor. I introduce risk fluctuations as uncertainty shocks and calibrate those shocks to the U.S. micm-level wage data. When moved by both uncertainty and aggregate TFP shocks, the model generates a weakly negative correlation between total hours worked and average labor productivity and large fluctuations in the labor wedge close to those in the U.S. economy. Without uncertainty shocks, hours and productivity comove strongly and the labor wedge varies little. | en |
dc.format.mimetype | application/pdf | - |
dc.language.iso | eng | - |
dc.publisher | Institute of Economic Research, Kyoto University | en |
dc.publisher.alternative | 京都大学経済研究所 | ja |
dc.subject | Uninsured idiosyncratic wage risk | en |
dc.subject | ndivisible labor | en |
dc.subject | Uncertainty shocks | en |
dc.subject | Hours-productivity correlation | en |
dc.subject | Labor | en |
dc.subject.ndc | 330 | - |
dc.title | Time-Varying Wage Risk, Incomplete Markets, and Business Cycles | en |
dc.type | research report | - |
dc.type.niitype | Research Paper | - |
dc.identifier.jtitle | KIER Discussion Paper | en |
dc.identifier.volume | 912 | - |
dc.textversion | author | - |
dc.sortkey | 00912 | - |
dcterms.accessRights | open access | - |
出現コレクション: | KIER Discussion Paper (英文版) |
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