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 …

This Paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks …. Our aim is to describe the transmission of income inequality into consumption inequality. Our framework nests the special …-sectional distribution of consumption growth, and analyse the way these two measures of household welfare correlate over time. We combine …

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that … incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for … the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, non …

This paper investigates the implications of budgetary policies for consumption and economic growth. We present a model … a rise in government debt, financed by lump-sum taxes, increases the share of private consumption to national income and … reduces the long-run growth rate. We also show that a rise in government consumption financed by lump-sum taxes reduces both …

partial equilibrium life-cycle model of consumption and labour supply to analyse the choices individuals make in the light of … unemployment insurance which provides (partial) insurance against employment risk and no insurance against persistent shocks. … productivity risk from employment risk and identify the components of each using the Survey of Income and Program Participation and …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … to the failure of political parties to precommit to price stability, in the light of unemployment persistence. Elections … are associated with higher inflation, with the exception of the Thatcher period. There is no evidence that the Labour …

earnings and the probability of employment in a very simple and parsimonious way. Based on the responses, we estimate the …

recent differential unemployment persistence in our sample of countries: first, sluggishness in labour demand, and second …In this paper we present an investigation of unemployment persistence in Japan, the United States and fourteen European … economies. We concentrate on the sources of slow adjustment in the labour market, such as sluggishness in labour demand and …

We extend the `rational partisan model' of inflation and unemployment by introducing inflation and unemployment … stability. The greater aversion of `socialists' to unemployment results in an inflation rate which is higher by five percentage … points than under the more anti-inflationary `conservatives'. Unemployment seems to be independent of the identity of the …

natural rate of unemployment. In addition, because of differential inflation across countries, real exchange rates become …