Cyclical Dynamics in Idiosyncratic Labor Market Risk

By Kjetil Storesletten, Chris I. Telmer, Amir Yaron. Journal of Political Economy, 2004

680 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/6ede970e69cef40c480642c5b286a438344a4c3a

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Citations in the corpus

The Common Factor in Idiosyncratic Volatility: Quantitative Asset Pricing Implications (2014, background): “In related work, Storesletten, Telmer, and Yaron (2004) document evidence of counter-cyclical variation in idiosyncratic labor income variance, while Guvenen, Ozkan, and Song (2014) find counter-cyclical skewness in income data.”
Financial Integration, Financial Development, and Global Imbalances (2009, result): “These values imply that logD p 0.6w earnings have an autocorrelation coefficient of 0.9 and a standard deviation of 0.30, which are in the ranges of values estimated by Storesletten, Telmer, and Yaron (2004).”
Labor Income Dynamics and the Insurance from Taxes, Transfers, and the Family (2014, neutral): “This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/3.0/).”
The Distribution of Wealth and the Marginal Propensity to Consume (2017, background): “…cation capture well the key features of actual household-level income processes; see Topel (1991), Carroll (1992), Mo tt and Gottschalk (2011), Storesletten, Telmer, and Yaron (2004), Low, Meghir, and Pistaferri (2010), DeBacker, Heim, Panousi, Ramnath, and Vidangos (2013), and many others…”
Heterogeneous Beliefs, Speculation, and the Equity Premium (2008, background): “These stylized facts have some support in recent empirical research on individual level consumption (Storesletten, Telmer, and Yaron 2004).”
Transmission of Monetary Policy with Heterogeneity in Household Portfolios (2018, background): “…index of 0.78 this implies that roughly 1% of households are entrepreneurs.19 I set the quarterly standard deviation of persistent shocks to idiosyncratic labor productivity to 0.06 and the quarterly autocorrelation to 0.987 – both standard values in the literature (c.f. Storesletten et al., 2004).”
U.S. Tax Policy and Health Insurance Demand: Can a Regressive Policy Improve Welfare? (2009, neutral): “Thomasson (2004) provides a historical background of the events.”
Dynamic asset allocation with stochastic income and interest rates. (2010, neutral): “…a link between expected excess stock returns and the expected growth and riskiness of labor income (see for example Jagannathan and Wang (1996), Julliard (2004), and Storesletten, Telmer, and Yaron (2004)), but we will not address the potential implications for portfolio choice in this paper.”