evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality … that taking risk sharing into account is important for the model fit; that the increase in inequality in the 1980s was … mainly permanent; and that inequality is driven almost entirely by idiosyncratic income risk. In addition we find no evidence …

evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

consumption insurance. Based on insights from a theoretical model, we propose a new test to detect advance information, which … requires only panel data on consumption and income. Using the Panel Study of Income Dynamics, we find-in contrast to the … results imply that 27% of all unexpected income changes are passed through to consumption. Ignoring advance information leads …

This paper develops an analytical framework to study consumption and labour supply in a rich class of heterogeneous … and transitory idiosyncratic productivity shocks, and for permanent preference heterogeneity and idiosyncratic preference … equilibrium joint distribution over wages, hours and consumption. With these expressions in hand, we show that all the structural …

general panel date on total consumption from the intertemporal budget constraint. The distribution of consumption levels is … shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then … used to estimate the discount rates of households. We show that there is substantial heterogeneity in discounting behaviour …