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 …

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …

partial insurance of parental investments against permanent income shocks, and we cannot reject the hypothesis full insurance … 10% of family income leads, at most, to an increase in investments of 1.3% of a standard deviation. -- insurance ; human …

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …

Administrative burdens may deepen inequality by creating costly experiences for vulnerable groups. Research to date …

Administrative burdens may deepen inequality by creating costly experiences for vulnerable groups. Research to date …

with the life insurance data, in equilibrium young households are borrowing constrained and under-insured against human … capital risk. A calibrated version of the model can quantitatively account for the life-cycle variation of life-insurance … holdings, financial wealth, earnings, and consumption inequality observed in the US data. Our analysis implies that a reform …

account for the life-cycle variation of life-insurance holdings, financial wealth, earnings, and consumption inequality … due to the limited pledgeability of human capital. We show analytically that, consistent with the life insurance data, in … insurance. …

inequality and the incidence of poverty are greater in the United States than in Germany. Overall inequality and poverty levels …

, inequality or poverty. This is true for country specific work or for cross-national comparisons. Researchers generally either use …