NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Nature of Countercyclical Income Risk

Fatih Guvenen, Serdar Ozkan, Jae Song

NBER Working Paper No. 18035
Issued in May 2012

---- Acknowledgements -----

A substantial part of this paper was completed while Guvenen was a visiting economist at the Federal Reserve Bank of Chicago, whose hospitality is gratefully acknowledged. The views expressed herein are those of the authors and not necessarily those of the Social Security Administration, the Federal Reserve Bank of Chicago, the Federal Reserve System, or the National Bureau of Economic Research.

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