consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and … income process. The empirical application of our framework using data on individual incomes from Mexico provides striking …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and … income process. The empirical application of our framework using data on individual incomes from Mexico provides striking …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …

analysis uses a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to … of the underlying income process. The empirical application of the framework using data on individual incomes from Mexico … therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or …

analysis uses a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to … of the underlying income process. The empirical application of the framework using data on individual incomes from Mexico … therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or …

analysis uses a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to … of the underlying income process. The empirical application of the framework using data on individual incomes from Mexico … therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or …

Income mobility is often thought to equalize permanent incomes and thereby to improve social welfare. The welfare … comparative) impact of mobility and of the tax system (another presumed income equalizer) on the dynamics of income across time … and on the inequality of income across individuals. Using panel data, we find that Canada's tax system limits …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and … income process. The empirical application of our framework using data on individual incomes from Mexico provides striking …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …