Moving Back Home: Insurance against Labor Market Risk
研究发现，年轻人搬回父母家是一种应对劳动力市场风险的保险机制，有助于他们追求高收入增长的工作。基于月度面板数据，实证分析了同住、劳动力市场事件与收入增长的关系，并估计了动态博弈模型以解释低技能年轻工人的消费、劳动供给和储蓄行为。
This paper demonstrates that the option to move in and out of the parental home is a valuable insurance channel against labor market risk, which facilitates the pursuit of jobs with the potential for high earnings growth. Using monthly panel data, I document an empirical relationship among coresidence, individual labor market events, and subsequent earnings growth. I estimate the parameters of a dynamic game between youths and parents to show that the option to live at home can account for features of aggregate data for low-skilled young workers: small consumption responses to shocks, high labor elasticities, and low savings rates.