income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory …. Consumption is modeled as an age-dependent nonlinear function of assets and the two earnings components. We establish the … nonparametric identification of the nonlinear earnings process and the consumption policy rule. Exploiting the enhanced consumption …

income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory …. Consumption is modeled as an age-dependent nonlinear function of assets and the two earnings components. We establish the … nonparametric identification of the nonlinear earnings process and the consumption policy rule. Exploiting the enhanced consumption …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … emphasis on cross-country comparisons. Most, but not all, countries experienced substantial increases in wages and earnings … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … emphasis on cross-country comparisons. Most, but not all, countries experienced substantial increases in wages and earnings … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

nationally representative household survey. We find complex income and consumption effects that would be missed in standard CGE …