@article {RePEc:eee:ecolet:v:120:y:2013:i:3:p:528-531,
	title = {Cyclical dynamics in idiosyncratic labor-market risks: Evidence from March CPS 1968{\textendash}2011},
	journal = {Economics Letters},
	volume = {120},
	number = {3},
	year = {2013},
	pages = {528-531},
	abstract = {The paper estimates the household labor earning process using the March Current Population Survey 1968{\textendash}2011. GMM estimates confirm that the results in Storesletten et al. (2004) still hold in a much larger data set over a longer period. The persistent idiosyncratic risk is strongly countercyclical, with an annual auto-correlation equal to .973 and an standard deviation that increases by 72.5\% (from .090 to .156) as the macroeconomy moves from peak to trough.},
	keywords = {Countercyclical, Idiosyncratic risk, Incomplete market model},
	doi = {10.1016/j.econlet.2013.06},
	url = {https://ideas.repec.org/a/eee/ecolet/v120y2013i3p528-531.html},
	author = {Bo Zhao}
}
