analysis uses a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to … therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare … welfare evaluation. -- income mobility ; labor market risk ; social welfare …

analysis uses a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to … therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or …

This paper analyzes the welfare costs of business cycles when workers face uninsurable idiosyncratic labor income risk …. In accordance with the previous literature, this paper decomposes labor income risk into an aggregate and an … income risk. Using the multi-dimensional approach to idiosyncratic risk, this paper provides a general characterization of …