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73 records from EconBiz based on author Name
1. Skewed idiosyncratic income risk over the business cycle : sources and insurance
Busch, Christopher; Domeij, David; Guvenen, Fatih; Madera, Rocio;2020
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link 2. Skewed idiosyncratic income risk over the business cycle : sources and insurance
Busch, Christopher; Domeij, David; Guvenen, Fatih; Madera, Rocio;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
Citations: 5 (based on OpenCitations)
3. Asymmetric business-cycle risk and social insurance
Busch, Christopher; Domeij, David; Guvenen, Fatih; Madera, Rocio;2018
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability: Link
4. Asymmetric business-cycle risk and social insurance
Busch, Christopher; Domeij, David; Guvenen, Fatih; Madera, Rocio;2018
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link
5. Asymmetric Business-Cycle Risk and Social Insurance
abstractThis paper studies the business-cycle variation in higher-order (labor) income risk--that is, risks that are captured by moments higher than the variance. We examine the extent to which such risks can be smoothed within households or with government social insurance and tax policies. We use panel data from three countries that differ in many aspects relevant for our analysis: the United States, Germany, and Sweden. Our analysis has three main results. First, using individual gross income, we document that skewness is procyclical and dispersion (variance) is flat and acyclical in Germany and Sweden, as was previously documented for the United States. The same patterns hold true for groups defined by education, gender, public- versus private-sector jobs, among others. Second, household-level income displays cyclical patterns that are very similar to individual income, indicating that within-household smoothing is not very effective at mitigating business cycle fluctuations in skewness. Third, government tax and transfer programs blunt some of the largest declines in incomes, reducing procyclical fluctuations in skewness, especially in Germany and Sweden. The resulting welfare gain--through the lens of a structural model--amounts to 1.3% in consumption-equivalent terms for Sweden (for which we are able to perform this calculation). However, the remaining risk (in household disposable income) is still substantial: households are willing to pay 4.6% of their consumption to completely eliminate procyclical fluctuations in skewness
Busch, Christopher; Domeij, David; Guvenen, Fatih; Madera, Rocio;2018
Availability: Link Link
Citations: 11 (based on OpenCitations)
6. Asymmetric Business-Cycle Risk and Social Insurance
abstractThis paper studies the business-cycle variation in higher-order (labor) income risk—that is, risks that are captured by moments higher than the variance. We examine the extent to which such risks can be smoothed within households or with government social insurance and tax policies. We use panel data from three countries that differ in many aspects relevant for our analysis: the United States, Germany, and Sweden. Our analysis has three main results. First, using individual gross income, we document that skewness is procyclical and dispersion (variance) is flat and acyclical in Germany and Sweden, as was previously documented for the United States. The same patterns hold true for groups defined by education, gender, public- versus private-sector jobs, among others. Second, household-level income displays cyclical patterns that are very similar to individual income, indicating that within-household smoothing is not very effective at mitigating business cycle fluctuations in skewness. Third, government tax and transfer programs blunt some of the largest declines in incomes, reducing procyclical fluctuations in skewness, especially in Germany and Sweden. The resulting welfare gain—through the lens of a structural model—amounts to 1.3% in consumption-equivalent terms for Sweden (for which we are able to perform this calculation). However, the remaining risk (in household disposable income) is still substantial: households are willing to pay 4.6% of their consumption to completely eliminate procyclical fluctuations in skewness
Busch, Christopher; Guvenen, Fatih; Domeij, David; Madera, Rocio;2018
Availability: Link
7. Rational bubbles and public debt policy : a quantitative analysis
Domeij, David; Ellingsen, Tore;2018
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
Citations: 14 (based on OpenCitations)
8. Hur kan vi kurera ekonomiska kriser?
Domeij, David; Ellingsen, Tore;2017
Type: Aufsatz in Zeitschrift; Article in journal;
9. Should day care be subsidized?
abstractIn an economy with distortionary taxes on labor, can subsidies on day care, financed by an increase in taxes, raise welfare by encouraging women with small children to work? We show, within a heterogeneous-agent life-cycle framework, that the Ramsey optimal policy consists in equalizing consumption/leisure wedges over the life cycle and across agents. A simple way to implement this is to make day care expenses tax deductible. Calibrating our model to Germany, we find that tax deductibility for day care expenses leads to an approximate doubling of labor supply for both married and single mothers with small children. The overall welfare gain from optimal reform corresponds to a 1.0 percent increase in consumption. -- Female labor force participation ; Germany ; day care subsidies
Domeij, David; Klein, Paul;2010
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link
Link Link 10. Inequality trends in Sweden 1978 - 2004
abstractWe document a clear increase in Swedish earnings inequality in the early 1990s. Inequality in disposable income and earnings net of taxes and transfers also increased, but much less than the increased inequality in pre-government earnings. These different developments are most likely explained by the generous Swedish welfare system. Consistent with these observations, we see no clear trend in consumption inequality. We also estimate stochastic processes for household earnings. A simple random-walk process captures much of the life-cycle dynamics. But we find clear evidence that the true earnings process is not a random walk. We demonstrate that some estimation methods result in severe upward bias in the estimated volatility of permanent shocks if serial correlation in temporary shocks is ignored. Our estimation results show that the increase in earnings inequality is almost entirely driven by an increase in residual earnings inequality. Moreover, this increase was mostly generated by an increased volatility of persistent shocks. -- income inequality ; consumption inequality ; stochastic earnings process
Domeij, David; Flodén, Martin;2009
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link
Link