This paper provides a comprehensive survey of seven aspects of rising inequality that are usually discussed separately: changes in labor's share of income; inequality at the bottom of the income distribution, including labor mobility; skill-biased technical change; inequality among high incomes;...

Data on consumption inequality are too fragile to reach firm conclusions. We introduce two new issues, disparities in the growth of price indexes and also of life expectancy between the rich and the poor. We conclude with a perspective on international differences that blends institutional and...

Cover -- Contents -- Abstract -- I. Introduction -- II. Review of the Literature -- III. Income Shares or the Distribution of Income? A Look at Household Data -- IV. Labor Share and Inequality in a Macro Framework -- V. Conclusion -- Figures -- 1. Income Inequality and Wage Share in Group of...

The last four decades have been marked by growing inequality. The inequality of income and wealth is one of the most important macroeconomic issues of our time. Inequality contributed to Global Savings Glut and Global Financial Crisis through riskiness channel and a greater propensity to borrow...