作者：Primiceri, Giorgio E.; van Rens, Thijs
作者单位：Northwestern University; National Bureau of Economic Research; Centre de Recerca en Economia Internacional (CREI); Pompeu Fabra University
摘要：Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use Consumer Expenditure Survey (CEX) repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life-cycle changes, transitory and permanent shocks and estimate the contribution of each to total inequality. O...
作者：Comin, Diego; Groshen, Erica L.; Rabin, Bess
作者单位：Harvard University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Has greater turbulence among firms fueled rising wage instability in the U.S.? We find strong Support for the hypothesis that rising turbulence in the sales of large publicly-traded U.S. firms over the past three decades has raised their workers' high-frequency wage volatility. Through controls and instrumental variable probes, we rule out straightforward compositional churning as an explanation for the link between firm sales and wage volatility. We also observe that the relationship between ...
