Earnings Dynamics and Profile Heterogeneity: Estimates from Japanese Panel Data
Earnings Dynamics and Profile Heterogeneity: Estimates from Japanese Panel Data
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盈利动态和概况异质性：来自日本面板数据的估计
DOI：
10.1111/jere.12045
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发表时间：
2015
期刊：
影响因子：
--
通讯作者：
Masakatsu Okubo
中科院分区：
文献类型：
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作者：
Masakatsu Okubo
type=“main”>最近使用美国面板数据对收益过程进行的实证研究发现，如果忽略个体间收益分布的异质性，则收益冲击的自回归参数会出现向上的偏差。然后，它认为，现有的假设在不完全市场和异质代理模型，几乎所有这些都需要高度持续的盈余冲击和没有个人特定和群体特定的差异，在盈利增长率，可能是不合适的。本文以日本男性收入为研究对象，探讨了美国这一基于数据的争论对其他发达国家的适用性。结果表明，尽管估计数存在一些差异，但有可能证实美国最近的论点。
type="main"> The recent empirical work on earnings processes using US panel data finds that ignoring heterogeneity in earnings profiles among individuals leads to an upward bias in the autoregressive parameter of earnings shocks. It then argues that the existing assumptions in incomplete markets and heterogeneous-agent models, almost all of which require highly persistent earnings shocks and no individual-specific and group-specific differences in earnings growth rates, may be inappropriate. This paper investigates the applicability of this US data-based debate to other developed countries by using a panel of Japanese male earnings. The results indicate that it is possible to corroborate the recent US arguments, despite some differences in the estimates.