Recent research has documented that income inequality in the United States has increased dramatically over the prior … three decades. There has been less of a consensus, however, on whether the increase in income inequality was matched by an … Study of Income Dynamics to explore the dynamics of alternative measures of consumption inequality. All of our different …

heterogeneity. In contrast to simpler models that attribute all income fluctuations to shocks, our framework disentangles …

We use the 1988 PSID to study the effects of income and wealth on transfers of money and time between individuals and … transfers are only weakly related to income differences. Richer siblings give more to parents and receive less. Among parents … in the cross section or in the analysis using siblings that parental income or wealth raises time transfers from children …

choices over the life cycle. We start by analyzing the theoretical impact of income changes on consumption - highlighting the … contributions, distinguishing between papers that use only income data and those that use both income and consumption data. The … and identify the income process or the information set of the individuals. Second, one can assume that the income process …

We review different empirical approaches that researchers have taken to estimate how consumption responds to income … changes. We critically evaluate the empirical evidence on the sensitivity of consumption to predicted income changes …, distinguishing between the traditional excess sensitivity tests, and the effect of predicted income increases and income declines. We …

The economics workings of the corporate income tax remain controversial. Harberger's seminal 1962 article viewed the … triggers the firm's classification as a corporation subject to income taxation. But going public has an upside. It permits …

income tax produces rapid and dramatic increases in the model's level of U.S. investment, output, and real wages, making the …

This year marks the twenty-fifth anniversary of Arnold Harberger's celebrated model of the corporation income tax … understanding the incidence and excess burden of the corporate income tax remains in question. One difficulty confronting all …

The 1986 Tax Reform Act, while having little effect on the overall effective tax rate on U.S. capital income, did … redistribution of income associated with the Tax Reform. We find that the 1986 Tax Reform law reduces excess burden by .85 percent of …