<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="7.x">Drupal-Biblio</source-app><ref-type>17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Bo Zhao</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">Cyclical dynamics in idiosyncratic labor-market risks: Evidence from March CPS 1968–2011</style></title><secondary-title><style face="normal" font="default" size="100%">Economics Letters</style></secondary-title></titles><keywords><keyword><style  face="normal" font="default" size="100%">Countercyclical</style></keyword><keyword><style  face="normal" font="default" size="100%">Idiosyncratic risk</style></keyword><keyword><style  face="normal" font="default" size="100%">Incomplete market model</style></keyword></keywords><dates><year><style  face="normal" font="default" size="100%">2013</style></year></dates><urls><web-urls><url><style face="normal" font="default" size="100%">https://ideas.repec.org/a/eee/ecolet/v120y2013i3p528-531.html</style></url></web-urls></urls><number><style face="normal" font="default" size="100%">3</style></number><volume><style face="normal" font="default" size="100%">120</style></volume><pages><style face="normal" font="default" size="100%">528-531</style></pages><language><style face="normal" font="default" size="100%">eng</style></language><abstract><style face="normal" font="default" size="100%">The paper estimates the household labor earning process using the March Current Population Survey 1968–2011. 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.</style></abstract></record></records></xml>