In this paper we use the enhanced consumption data in the Panel Survey of Income Dynamics (PSID) from 2005-2017 to … explore the transmission of income shocks to consumption. We build on the nonlinear quantile framework introduced in Arellano …, Blundell and Bonhomme (2017). Our focus is on the estimation of consumption responses to persistent nonlinear income shocks in …

We develop a new approach to the decomposition of income risk within a non- stationary model of intertemporal choice … of persistent and transitory components in the dynamic process for income. We fo- cus on what can be learned from … repeated cross-section data alone. Evidence from a stochastic simulation of consumption choices in a nonstationarity …

expanded welfare system meant that, if anything, disposable income inequality fell. Rising house prices have benefited people … standards, mental health, and wealth in the UK. The pandemic has pushed up inequalities on several dimensions. School closures … in particular around the middle of the wealth distribution. In the longer term, lower work experience for the less …

income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory …We develop a new quantile-based panel data framework to study the nature of income persistence and the transmission of …. Consumption is modeled as an age-dependent nonlinear function of assets and the two earnings components. We establish the …

income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory …We develop a new quantile-based panel data framework to study the nature of income persistence and the transmission of …. Consumption is modeled as an age-dependent nonlinear function of assets and the two earnings components. We establish the …

income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory …We develop a new quantile-based panel data framework to study the nature of income persistence and the transmission of …. Consumption is modeled as an age-dependent nonlinear function of assets and the two earnings components. We establish the …

We study earnings and income inequality in Britain over the past two decades, including the period of relatively … household income inequality fell due to deliberate increases in redistribution, the tax and transfer system's insurance role … the "new inequality" at the very top. Household earnings inequality has risen, driven by male earnings - although a 'catch …