2023-09-28 14:46:10 +00:00
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abstract: 'Over the past few decades, the skilled-unskilled hours differential for
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U.S. men increased when the skill premium rose sharply, in contrast with
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dominant income effects. Based on PSID data, we show that over the
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1967-2000 period, skilled men experienced a three times larger increase
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in wage volatility than unskilled men. With the rise in wage volatility,
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our general equilibrium incomplete markets model generates a 2.7 hours
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increase in the hours differential whereas it increased by 1.4 hours in
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the data. We find that hours adjustments are important for
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self-insurance in the short run, whereas precautionary savings play a
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crucial role eventually.'
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affiliation: 'You, HM (Corresponding Author), Hanyang Univ, Coll Econ \& Finance,
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222 Wangsimni Ro, Seoul 04763, South Korea.
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Seoul Natl Univ, Seoul, South Korea.
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Ewha Womans Univ, Seoul, South Korea.
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Hanyang Univ, Seoul, South Korea.'
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author: Hong, Jay H. and Seok, Byoung Hoon and You, Hye Mi
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author-email: hyemi.you@gmail.com
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author_list:
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- family: Hong
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given: Jay H.
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- family: Seok
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given: Byoung Hoon
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- family: You
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given: Hye Mi
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da: '2023-09-28'
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doi: 10.1111/iere.12363
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eissn: 1468-2354
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files: []
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issn: 0020-6598
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journal: INTERNATIONAL ECONOMIC REVIEW
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keywords-plus: 'CONSUMPTION INEQUALITY; PRECAUTIONARY SAVINGS; TRENDS; INCOME;
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PARTICIPATION; EMPLOYMENT; EARNINGS; RISK'
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language: English
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month: MAY
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number: '2'
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number-of-cited-references: '44'
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orcid-numbers: You, Hye Mi/0000-0003-3308-1743
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pages: 595-630
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papis_id: 08a62af566e7d34697ba618ad1ba150a
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ref: Hong2019wagevolatility
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times-cited: '2'
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title: WAGE VOLATILITY AND CHANGING PATTERNS OF LABOR SUPPLY
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000468796500004
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usage-count-last-180-days: '1'
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usage-count-since-2013: '10'
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volume: '60'
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web-of-science-categories: Economics
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year: '2019'
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