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Worker betas: Five facts about systematic earnings risk

Author(s): Guvenen, F; Schulhofer-Wohl, S; Song, J; Yogo, Motohiro

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dc.contributor.authorGuvenen, F-
dc.contributor.authorSchulhofer-Wohl, S-
dc.contributor.authorSong, J-
dc.contributor.authorYogo, Motohiro-
dc.date.accessioned2019-12-04T19:27:35Z-
dc.date.available2019-12-04T19:27:35Z-
dc.date.issued2017-05en_US
dc.identifier.citationGuvenen, F, Schulhofer-Wohl, S, Song, J, Yogo, M. (2017). Worker betas: Five facts about systematic earnings risk. American Economic Review, 107 (5), 398 - 403. doi:10.1257/aer.p20171094en_US
dc.identifier.issn0002-8282-
dc.identifier.urihttp://arks.princeton.edu/ark:/88435/pr1wt9h-
dc.description.abstractThe magnitude of and heterogeneity in systematic earnings risk has important implications for various theories in macro, labor, and financial economics. Using administrative data, we document how the aggregate risk exposure of individual earnings to GDP and stock returns varies across gender, age, the worker's earnings level, and industry. Aggregate risk exposure is U-shaped with respect to the earnings level. In the middle of the earnings distribution, aggregate risk exposure is higher for males, younger workers, and construction and durable manufacturing. At the top of the earnings distribution, aggregate risk exposure is higher for older workers and finance.en_US
dc.format.extent398 - 403en_US
dc.language.isoenen_US
dc.relation.ispartofAmerican Economic Reviewen_US
dc.rightsFinal published version. Article is made available in OAR by the publisher's permission or policy.en_US
dc.titleWorker betas: Five facts about systematic earnings risken_US
dc.typeJournal Articleen_US
dc.identifier.doidoi:10.1257/aer.p20171094-
pu.type.symplectichttp://www.symplectic.co.uk/publications/atom-terms/1.0/conference-proceedingen_US

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