rich are strictly aligned. In empirical analysis a challenging complication is that consumer and income data are typically … income, household-size economies implied by the remainder household incomes are the same for the rich and the poor. …

rich are strictly aligned. In empirical analysis a challenging complication is that consumer and income data are typically … income, household-size economies implied by the remainder household incomes are the same for the rich and the poor. …

We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax … canonical Permanent-Income model. Spending rose most for consumers who were initially most likely to be liquidity constrained … can be important dynamics in consumers response to lumpy increases in income like tax rebates, working in part through …

Using data from the Consumer Expenditure Survey we first document that the recent increase in income inequality in the … different trends in within-group inequality, which has increased significantly for income but little for consumption. We then … develop a simple framework that allows us to analytically characterize how within-group income inequality affects consumption …

Using data from the Consumer Expenditure Survey we first document that the recent increase in income inequality in the … different trends in within-group inequality, which has increased significantly for income but little for consumption. We then … develop a simple framework that allows us to analytically characterize how within-group income inequality affects consumption …

Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual … income. By compressing the idiosyncratic component o personal income fluctuations, higher marginal taxes should be negatively … correlated with the dispersion of consumption across households, a necessary implication of an insurance effect of taxation. Our …

Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual … income. By compressing the idiosyncratic component o personal income fluctuations, higher marginal taxes should be negatively … correlated with the dispersion of consumption across households, a necessary implication of an insurance effect of taxation. Our …

are imperfectly correlated a system that endows retired households with claims to labor income enhances the sharing of …

are imperfectly correlated a system that endows retired households with claims to labor income enhances the sharing of …