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the assumption that there is no within household inequality. In this paper, we show that ignoring consumption inequality … households. Second, the rise in inequality since the 1970s is overstated by two-thirds: within household inequality declined over … wages and hours worked can simultaneously explain virtually all of the decline in within household inequality and a …
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Using transaction-level credit card spending from a leading Chinese commercial bank, we show that consumers reduce their consumption by 34% immediately after the publicity of penalties on a firm. The same consumers do not reduce consumption of non-punished firms, nor do consumers who do not have...
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