Carrillo-Tudela, Carlos; Visschers, Ludo; Wiczer, David - 2022
mobility or mobility shocks, we propose a multi-sector business cycle model with on-the-job search and endogenous occupational … mobility. Idiosyncratic occupational mobility is the main driver of cyclical earnings risk, mainly due to cyclical shifts in … the returns to this mobility. This is the main reason why the sullying effects of recessions are long-lasting. These …