Heathcote, Jonathan; Perri, Fabrizio; Violante, Giovanni L. - Federal Reserve Bank of Minneapolis - 2009
earnings, to disposable income, and, ultimately, to consumption and wealth. We document a continuous and sizable increase in … Current Population Survey, the Panel Study of Income Dynamics, the Consumer Expenditure Survey, and the Survey of Consumer … before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at …