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 …

Empirical studies on the relationship between income and happiness commonly use standard ordered response models, the … probability effects by design, and therefore limit the analysis of distributional aspects of a change in income, that is, the … study of whether the income effect depend on a person’s happiness. In this paper we pinpoint the shortcomings of standard …