This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare …. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing … measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable …

A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that …

In theory, and under some quite strong assumptions, there exists an important rigorous quantitative relationship among … the following four fundamental economic concepts: (1) "wealth"; (2) "income"; (3) "sustainability"; (4) "accounting …-fold quantitative relationship in an ultra-simplified setting. I identify some basic applications of this simplified economic theory of …

In theory, and under some quite strong assumptions, there exists an important rigorous quantitative relationship among … the following four fundamental economic concepts: (1) "wealth"; (2) "income"; (3) "sustainability"; (4) "accounting …-fold quantitative relationship in an ultra-simplified setting. I identify some basic applications of this simplified economic theory of …

of such i.i.d. shocks gets smaller, and more of their lapsations are driven either by income, health or bequest motive … shocks. Income and health shocks are relatively more important than bequest motive shocks in explaining lapsations when …

of such i.i.d. shocks gets smaller, and more of their lapsations are driven either by income, health or bequest motive … shocks. Income and health shocks are relatively more important than bequest motive shocks in explaining lapsations when …