We review research on the dynamics and distribution of individual earnings and family income. We start with univariate … earnings models, which dominate the literature and are often used as the exogenous component of family income in structural … family income that integrate individual earnings, marriage (accounting for marital sorting), and earnings of a spouse (if …

Top income inequality in the United States has increased considerably within occupations. This phenomenon has led to a … search for a common explanation. We instead develop a theory where increases in income inequality originating within a few … provides non-divisible services to consumers, with physicians our prime example. Examining local income inequality across U …

We estimate an income process that is consistent with key facts on individual income risk and its variation over the … business cycle. In particular, the estimated process generates income fluctuations that display (i) flat and acyclical variance … over the life cycle, all consistent with the US data. Furthermore, the income process captures the predictable nature of …

wage rates, employment, and hours; labor market shocks; spouse characteristics and shocks; nonlabor income shocks; and … marital histories to the age profiles of the variance of family income per adult equivalent. The decompositions are based upon …, fertility, and nonlabor income. We find that education and employment heterogeneity are key sources of the rise in the variance …

, the gender wage gap has kept shrinking. Both individual- and household-level income inequality have continued to rise at … expenditures has remained remarkably stable over time. Income pooling within the family and redistribution by the government have … downturn in fifty years in which inequality in disposable income and consumption actually declined …

We explore the evolution of income inequality and mobility in the U.S. for a large number of subnational groups defined … by race and ethnicity, using granular statistics describing income distributions, income mobility, and conditional income … find that income inequality and income growth patterns identified from administrative tax records differ in important ways …

the data, credit scores grow and fan out with age; at the same time, income and consumption inequality also increase with …, income, and consumption over an individual's lifetime which can replicate these empirical facts. We use the model to …

This chapter reviews empirical estimates of differential income and consumption growth across individuals during … recessions. Most existing studies examine the variation in income and consumption growth across individuals by sorting on ex ante … or contemporaneous income or consumption levels. We build on this literature by showing that differential shocks to …

that will accrue in retirement and excluding items included in the CBO income estimates such as "corporate taxes borne by … colloquial is referred to as the "hollowing out" of the middle class. According to these estimates, the income of the middle …. Even that meager rate was achieved only through substantial transfer payments. In contrast, the income of the top 1% grew …