The Covariance Structure of Earning and Hours Changes -The Case of Japanese households-

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Other Title
  • 家計所得過程の共分散構造分析
  • カケイ ショトク カテイ ノ キョウ ブンサン コウゾウ ブンセキ

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Description

The paper investigates individual earnings and hours using Japanese panel data. We find that (1) the variance of income changes Japanese households is approximately one-third of that of the US; (2) the autocovariance of income changes at first lag is approximately one half of the income variance; (3) the autocovariances of income changes at lags more than one year are negligible; and (4) the cross-covariances of changes in income and hours worked are very small. The decomposition of the variances into permanent shocks and measurement errors reveals that one-third of variations of income changes are due to permanent shocks.

Journal

  • 経済研究

    経済研究 58 (1), 15-30, 2007-01-25

    岩波書店

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