Arbeitspapier
Risk sharing and commuting among US federal states
Financial markets provide imperfect insurance of labor income risk. However, workers can partly insure against labor market risk by commuting to adjacent regions. Since commuters own wage claims to output produced in adjacent regions, the business cycle in the neighborhood becomes a relevant risk factor at the regional level. In our empirical analysis for US states, we show this effect to be important. State-specific consumption comoves with business cycle shocks that hit adjacent states, in particular if a state is integrated by commuter flows. This labor market perspective on regional risk sharing complements previous studies that investigated risk sharing through financial markets.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 3374
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
- Thema
-
Risk sharing
consumption smoothing
commuting
labor market risk
Pendelverkehr
Einkommen
Risiko
Regionaler Konjunkturzyklus
Gesamtwirtschaftlicher Konsum
Teilstaat
Regionaler Arbeitsmarkt
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Jüßen, Falko
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Jüßen, Falko
- Institute for the Study of Labor (IZA)
Entstanden
- 2008
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