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Title: Moving Back Home: Insurance against Labor Market Risk
Resulting in 1 citation.
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Kaplan, Greg |
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Moving Back Home: Insurance against Labor Market Risk Journal of Political Economy 120,3 (June 2012): 446-512. Also: http://www.jstor.org/stable/10.1086/666588 Cohort(s): NLSY97 Publisher: University of Chicago Press Keyword(s): Labor Force Participation; Mobility; Mobility, Residential; Parent-Child Interaction; Residence; Wage Growth This paper demonstrates that the option to move in and out of the parental home is a valuable insurance channel against labor market risk, which facilitates the pursuit of jobs with the potential for high earnings growth. Using monthly panel data, I document an empirical relationship among coresidence, individual labor market events, and subsequent earnings growth. I estimate the parameters of a dynamic game between youths and parents to show that the option to live at home can account for features of aggregate data for low-skilled young workers: small consumption responses to shocks, high labor elasticities, and low savings rates. |
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Bibliography Citation
Kaplan, Greg. "Moving Back Home: Insurance against Labor Market Risk." Journal of Political Economy 120,3 (June 2012): 446-512.
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