This paper describes the transmission of income inequality into consumption inequality and in so doing investigates the … degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX … cross-sections and distinguishes between permanent and transitory income shocks. We find some partial insurance of permanent …

This paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks …. Our aim is to describe the transmission of income inequality into consumption inequality. Our framework nests the special … cases of self-insurance and the complete markets assumption. We assess the degree of insurance over and above self-insurance …

program’s impact on output, human capital, poverty and income inequality. I also study its welfare implications and its … channel, induces a consistent reduction of both poverty and income inequality. …

program’s impact on output, human capital, poverty and income inequality. I also study its welfare implications and its … channel, induces a consistent reduction of both poverty and income inequality. …

The life-cycle patterns of consumption, wage and hours inequality observed in U.S. cross-section data are commonly …

consistent with several features of consumption data including (i) the substantial rise in within-cohort consumption inequality … (Deaton and Paxson 1994), (ii) the non-concave shape of the age-inequality profile (which the RIP model is not consistent with …

This paper studies the determinants of inequality in an infnitehorizon general equilibrium model. Missing capital … markets, lead to two-peaked wealth distributions and high inequality. The precautionary savings, affected by the level of …

model of inequality. We find that majority voting delivers (i) a small set of outcomes, (ii) zero labor income taxation, and …

This paper studies the determinants of inequality in an infnitehorizon general equilibrium model. Missing capital … markets, lead to two-peaked wealth distributions and high inequality. The precautionary savings, affected by the level of …