The UK has experienced a dramatic increase in earnings and income inequality over the past four decades. We use … policy shocks lead to a deterioration in earnings, income and consumption inequality and contribute to their fluctuation. The … response of income and consumption at different quantiles suggests that contractionary policy has a larger negative effect on …

We use a controlled laboratory experiment to study the causal impact of income decreases within a time period on …, we investigate the effect of a negative income trend (intra-personal decrease), which means a decreasing income compared … to one's recent past. Second, we investigate the effect of a negative income trend relative to the income trend of …