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 … and the cyclical fluctuations in income inequality. The rise in income inequality was stronger at the bottom of the …

We explore the relationships between subjective well-being and income, as seen across individuals within a given … higher in countries with greater GDP per capita. The magnitude of the satisfaction-income gradient is roughly the same … whether we compare individuals or countries, suggesting that absolute income plays an important role in influencing well …

payments (e.g. tax rebates) are spent on non-durable household consumption in the quarter that they are received. We develop a … a transaction cost. The optimal life-cycle pattern of wealth accumulation implies that many households are "wealthy hand …-to-mouth": they hold little or no liquid wealth despite owning sizable quantities of illiquid assets. They therefore display large …

This paper develops an analytical framework to study consumption and labour supply in a rich class of heterogeneous … equilibrium joint distribution over wages, hours and consumption. With these expressions in hand, we show that all the structural … wages and hours, and cross-sectional data on consumption. We estimate the model on CEX and PSID data for the U.S. economy …

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts … hand-to-mouth suggests that these households may have a high marginal propensity to consume out of transitory income …

repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …

income households who are house-rich and cash-poor are more likely to sell their home late in life. …