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Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and, hence, miss the important synergy among the three measures explicit in the life-cycle budget constraint. Using Panel Study of Income Dynamics data from 1999 through 2013, we...
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Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and, hence, miss the important synergy among the three measures explicit in the life-cycle budget constraint. Using Panel Study of Income Dynamics data from 1999 through 2013, we...
Persistent link: https://www.econbiz.de/10011995764
We do not need to and should not have to choose amongst income, consumption, or wealth as the superior measure of well-being. All three individually and jointly determine well-being. We are the first to study inequality in three conjoint dimensions for the same households, using income,...
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We use fifty years of the Panel Study of Income Dynamics to study the intergenerational correlation in income, consumption, and wealth to answer the question: is intergenerational mobility similar across the three resource measures? Absolute mobility is highest for consumption, followed by...
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