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Identifying Idiosyncratic Career Taste and Skill with Income Risk
Career choice Idiosyncratic taste and skill Income risk Occupational choice
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2016/3/18
How important to well-being is choosing a career with the right fit? This question is difficult to answer because we observe individuals only in their chosen careers, not in the other (presumably infe...
The representative consumer in the neoclassical growth model with idiosyncratic shocks
Neoclassical growth model Heterogeneous agents Aggregation Business cycles Idiosyncratic shocks
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2015/7/21
This paper studies a complete-market version of the neoclassical growth model, where agents face idiosyncratic shocks to earnings. We show that if agents possess identical preferences of either the CR...
Indivisible-labor, lotteries and idiosyncratic productivity shocks
Indivisible-labor Lotteries Idiosyncratic shocks Neoclassical growth model Heterogeneous agents Quasi-linear preferences
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2015/7/21
Indivisible-labor, lotteries and idiosyncratic productivity shocks.
WHERE DO RESOURCES COME FROM?THE ROLE OF IDIOSYNCRATIC SITUATIONS
RESOURCES COME FROM IDIOSYNCRATIC SITUATIONS
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2015/7/3
In this paper, we examine the emergence of resources. Our analysis of technological capability acquisition by global U.S.-based chemical firms shows that the emergence of resources is inherently evolu...