of the wealth distribution as well as the level and rise of consumption inequality over the life cycle …A recent literature argues that persistent heterogeneity in wealth returns ("type dependence") as well as a positive … association with wealth levels ("scale dependence") play an important role for explaining features of the wealth distribution …

-ante heterogeneity, income processes and asset structure, we show that the most important factor is the share and type of hand …-to-mouth households. One-asset models either feature a trade-off between a high average MPC and a realistic level of aggregate wealth, or … generate an excessively polarized wealth distribution that vastly understates the wealth held by households in the middle of …

downturn in fifty years in which inequality in disposable income and consumption actually declined …, the gender wage gap has kept shrinking. Both individual- and household-level income inequality have continued to rise at … the top, while the cyclical component of inequality dominates dynamics below the median. Inequality in consumption …

combine low inflation targets and high levels of wealth inequality …This paper studies how household inequality shapes the effects of the zero lower bound (ZLB) on nominal interest rates …

estimated, richer earnings process generates an increase in consumption inequality over the life cycle that is consistent with … process using two data sets: the Panel Study of Income Dynamics and a large, synthetic, data set that matches the dynamics of … the U.S. tax earnings. Third, it uses a life cycle model of consumption to compare the consumption and saving implications …

Recent estimates of US top wealth shares obtained by capitalizing income tax returns (Saez and Zucman, 2020; Smith … share of Smith et al. (2022) is close to the one found in Saez and Zucman (2020) and estimates of US wealth inequality are … Exchange Commission data at the shareholder firm level show that billionaires' equity wealth is underestimated by a factor of 2 …

a relationship between age-income and age-wealth profiles that is consistent with a life-cycle model of consumption …Using panel data for a sample of households in Utah from 1850 to 1900 we find income and wealth age profiles that are … given a concave and peaked age-income profile: households accumulate and then begin to draw down wealth holdings, the age-wealth …

This volume, from the 1956 Conference, deals with the nature, reliability, and the uses of the income data included in … the 1950 census. It contrasts this data with income information from other sources—field surveys, and administrative … findings based on income data. Of three papers of a more general nature, one surveys the frontiers of size distribution …

This paper adds life-cycle features to a New Keynesian model and shows how this places financial wealth at the center … of consumption/saving decisions, thereby enriching the determinants of aggregate demand and affecting the transmission of … offsetting income and substitution effects of interest rates, in a way that can be compounded by Quantitative Easing. We also …