000			01285nam a22001577a 4500
999			_c522285 _d522285
008			230328b ||||| |||| 00| 0 eng d
100			_aDebacker, J., Panousi, V. and Ramnath, S. _939182
245			_aA risky venture: Income dynamics among pass-through business owners
260			_aAmerican Economic Journal: Macroeconomics
300			_a15(1), Jan, 2023: p.444-474
520			_aWe employ a large panel of US income tax returns for the period 1987–2018 to extensively characterize and quantify business income risk. Our findings show business income to be much riskier than labor income. Business income is less persistent and is characterized by higher tail risk. Furthermore, when compared to labor income, heterogeneity across households is less important in explaining the cross-sectional variation in business income, and within-household income variation is more important. Our results underscore the income risks business owners face and provide stylized facts and parameter estimates useful for quantitative macroeconomic models and policy analysis.- Reproduced
650			_aLabor Demand, Wage Level and Structure; Wage Differentials, Tax Law, Entrepreneurship _939183
773			_aAmerican Economic Journal: Macroeconomics
906			_aWAGES
942			_cAR