Finding 2941Emerging EvidenceValidation V0
Households face large countercyclical idiosyncratic tail risks; rare severe income drops during downturns; these alone explain the high, persistent equity premium in robust models with recursive preferences and incomplete markets.
82%Confidence
1Evidence objects
v1Version
DraftStatus
Evidence trail
Supporting82% linkage confidence
Households face large countercyclical idiosyncratic tail risks; rare severe income drops during downturns; these alone explain the high, persistent equity premium in robust models with recursive preferences and incomplete markets.
key_findings bullet 1 · key_findings
Inspect source: Climbing and falling off the ladder: Asset pricing implications of labor market event risk →This Finding was extracted from the configured corpus. It is versioned, traceable, and may evolve through editorial review or new corpus evidence.