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 …

.S. earnings (from the Current Population Survey), consumption, and financial income (both from the Consumer Expenditure Survey … individuals out of unemployment. There is a weakly positive effect on consumption inequality and no effect on financial income …