@techreport{oai:tsukuba.repo.nii.ac.jp:00027216,
 author = {大久保, 正勝 and OKUBO, Masakatsu},
 month = {Mar},
 note = {The recent empirical work on earnings processes by Guvenen (2009) 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, heterogeneous-agent models, almost all of which require highly persistent
earnings shocks and no individual- 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 Guvenen’s arguments, despite some differences in the estimates.},
 title = {Earnings Dynamics and Profile Heterogeneity: Estimates from Japanese Panel Data},
 year = {2012},
 yomi = {オオクボ, マサカツ}
}