part applies the methodology to the long-run allocation of capital and consumption in a large cross section of countries … systematic relation between fast growth and preference for delayed consumption. The third part applies the methodology to the …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

components, modest changes in consumption expenditures, and large changes in wealth. We then split the sample in households which … do not own business or real estate wealth, and households who do. For the first group, we find that consumption responses … income shocks can explain well the consumption and wealth responses, both at short and long horizons. For the second group …

earnings, to disposable income, and, ultimately, to consumption and wealth. We document a continuous and sizable increase in … limited both the level and growth of consumption inequality. (Copyright: Elsevier) …