Heterogeneous Life-Cycle Profiles, Income Riskand Consumption Inequality

Was the increase in income inequality in the US due to permanent shocks or merely to anincrease in the variance of transitory shocks? The implications for consumption and welfaredepend crucially on the answer to this question. We use CEX repeated cross-section data onconsumption and income to decompose idiosyncratic changes in income into predictable lifecyclechanges, transitory and permanent shocks and estimate the contribution of each tototal inequality...

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Year of publication:	2007-12-01
Authors:	Primiceri, Giorgio E. ; Rens, Thijs van
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Verbrauch \| Ungleichheit \| inequality aversion

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Extent:	329728 bytes 40 p. application/pdf
Series:	IZA Discussion Papers IZA Discussion Paper ; No. 3239 (2007)
Type of publication:	Book / Working Paper
Language:	English
Classification:	D12 - Consumer Economics: Empirical Analysis ; D31 - Personal Income, Wealth and Their Distributions ; D52 - Incomplete Markets ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; E21 - Consumption; Saving ; Personnel administration. Other aspects ; Market research ; Individual Working Papers, Preprints ; USA
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005861079