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Heterogenous Life-Cycle Profiles, Income Risk and Consumption Inequality

Primiceri, Giorgio E; van Rens, Thijs - C.E.P.R. Discussion Papers - 2006

Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …-cycle changes, transitory and permanent shocks and estimate the contribution of each to total inequality. Our model fits the joint … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

Persistent link: https://www.econbiz.de/10005661588

Fiscal Policy and MPC Heterogeneity

Jappelli, Tullio; Pistaferri, Luigi - C.E.P.R. Discussion Papers - 2013

48 percent on average, and that there is substantial heterogeneity in the distribution. We find that households with low …

Persistent link: https://www.econbiz.de/10011084014

Consumption, Income Changes and Heterogeneity: Evidence from Two Fiscal Stimulus Programmes

Misra, Kanishka; Surico, Paolo - C.E.P.R. Discussion Papers - 2013

propensity held high mortgage debt. The heterogeneity is concentrated in a few non-durable categories and a handful of `new …

Persistent link: https://www.econbiz.de/10011083341

Heterogeneous Responses and Aggregate Impact of the 2001 Income Tax Rebates

Misra, Kanishka; Surico, Paolo - C.E.P.R. Discussion Papers - 2011

% of households, with higher income or liquid wealth. The estimated heterogeneity implies that the tax rebates added a 3 …

Persistent link: https://www.econbiz.de/10008925717

On the Evolution of the US Consumer Wealth Distribution

Hintermaier, Thomas; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2010

We use all available waves of the Survey of Consumer Finances to document the evolution of the wealth distribution in the US since the 1980s. We then rely on the shape of this distribution to estimate a life-cycle incomplete markets model. We find that considering a wide range of net-worth...

Persistent link: https://www.econbiz.de/10008468610

Flat Tax Reforms in the US: A Boon for the Income Poor

Díaz-Giménez, Javier; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2006

In this article we quantify the aggregate, distributional and welfare consequences of two revenue neutral flat-tax reforms using a model economy that replicates the U.S. distributions of earnings, income and wealth in very much detail. We find that the less progressive reform brings about a 2.4%...

Persistent link: https://www.econbiz.de/10005662104

Business Cycle Fluctuations and the Distribution of Consumption

De Giorgi, Giacomo; Gambetti, Luca - C.E.P.R. Discussion Papers - 2014

reduce consumption inequality on impact. …

Persistent link: https://www.econbiz.de/10011145411

Consumption and Labour Supply with Partial Insurance: An Analytical Framework

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2007

and transitory idiosyncratic productivity shocks, and for permanent preference heterogeneity and idiosyncratic preference … over the period 1967-1996. We then use the estimated parameter values to decompose inequality in all variables of interest …

Persistent link: https://www.econbiz.de/10005114147

Durable Goods, Borrowing Constraints and Consumption Insurance

Cerletti, Enzo; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2012

In this paper we study the transmission of income shocks into nondurable consumption in the presence of durable goods. We use a standard a life-cycle model with two goods to characterize the interaction of durability of goods, durability of shocks, and borrowing constraints as determinants of...

Persistent link: https://www.econbiz.de/10011084596

The Wealthy Hand-to-Mouth

Kaplan, Greg; Violante, Giovanni L; Weidner, Justin - C.E.P.R. Discussion Papers - 2014

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...

Persistent link: https://www.econbiz.de/10011084522