Inequality Of Income And Consumption In The U S
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Inequality Of Income And Consumption In The U S
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Author : Jonathan Fisher
language : en
Publisher:
Release Date : 2016
Inequality Of Income And Consumption In The U S written by Jonathan Fisher and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper examines the distribution of income and consumption in the U.S. using one dataset that obtains measures of both income and consumption from the same set of individuals. We develop a set of inequality measures that show the increase in inequality during the past 27 years using the 1984-2011 Consumer Expenditure Survey. We find that the trends in income and consumption inequality are similar between 1984 and 2006, and diverge during and after the Great Recession. For the entire 27-year period we find that consumption inequality increases almost as much as does income inequality.
Economic Inequality In The United States
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Author : Lars Osberg
language : en
Publisher: Routledge
Release Date : 2015-12-22
Economic Inequality In The United States written by Lars Osberg and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Business & Economics categories.
Originally published in 1984, this study explores multiple theoretical perspectives as well as critically analysing the most recent evidence at the time to try and find a full explanation for inequality in the United States. Arguments of neoclassical economists and Marxist and institutional structuralists are considered by Osberg as well as putting forward his own model. Osberg uses his findings to attempt a complete explanation of the issue and advises on policies which could be undertaken by the government to try and lessen the gap. This title will be of interest to students of Economics.
United States Income Wealth Consumption And Inequality
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Author : Deputy Assistant Secretary for Macroeconomic Policy and Acting Assistant Secretary for Economic Policy Diana Furchtgott-Roth
language : en
Publisher: Oxford University Press, USA
Release Date : 2020-09-09
United States Income Wealth Consumption And Inequality written by Deputy Assistant Secretary for Macroeconomic Policy and Acting Assistant Secretary for Economic Policy Diana Furchtgott-Roth and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-09 with Social Science categories.
United States Trends in Income, Wealth, Consumption, and Well-Being analyzes economic trends, examines income inequality, and discusses what can be done to increase economic mobility today.
Consumption And Income Inequality In The U S Since The 1960s
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Author : Bruce D. Meyer
language : en
Publisher:
Release Date : 2017
Consumption And Income Inequality In The U S Since The 1960s written by Bruce D. Meyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Consumption (Economics) categories.
Official income inequality statistics indicate a sharp rise in inequality over the past five decades. These statistics do not accurately reflect inequality because income is poorly measured, particularly in the tails of the distribution, and current income differs from permanent income, failing to capture the consumption paid for through borrowing and dissaving and the consumption of durables such as houses and cars. We examine income inequality between 1963 and 2014 using the Current Population Survey and consumption inequality between 1960 and 2014 using the Consumer Expenditure Survey. We construct improved measures of consumption, focusing on its well-measured components that are reported at a high and stable rate relative to national accounts. While overall income inequality (as measured by the 90/10 ratio) rose over the past five decades, the rise in overall consumption inequality was small. The patterns for the two measures differ by decade, and they moved in opposite directions after 2006. Income inequality rose in both the top and bottom halves of the distribution, but increases in consumption inequality are only evident in the top half. The differences are also concentrated in single parent families and single individuals. Although changing demographics can account for some of the changes in consumption inequality, they account for little of the changes in income inequality. Consumption smoothing cannot explain the differences between income and consumption at the very bottom, but the declining quality of income data can. Asset price changes likely account for some of the differences between the measures in recent years for the top half of the distribution.
Innocent Bystanders Monetary Policy And Inequality In The U S
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Author : Mr.Olivier Coibion
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01
Innocent Bystanders Monetary Policy And Inequality In The U S written by Mr.Olivier Coibion and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.
Does Income Inequality Lead To Consumption Equality
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Author : Dirk Krueger
language : en
Publisher:
Release Date : 2005
Does Income Inequality Lead To Consumption Equality written by Dirk Krueger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Consumption (Economics) categories.
"Using data from the Consumer Expenditure Survey, we first document that the recent increase in income inequality in the United States has not been accompanied by a corresponding rise in consumption inequality. Much of this divergence is due to different trends in within-group inequality, which has increased significantly for income but little for consumption. We then develop a simple framework that allows us to analytically characterize how within-group income inequality affects consumption inequality in a world in which agents can trade a full set of contingent consumption claims, subject to endogenous constraints emanating from the limited enforcement of intertemporal contracts (as in Kehoe and Levine, 1993). Finally, we quantitatively evaluate, in the context of a calibrated general equilibrium production economy, whether this setup, or alternatively a standard incomplete markets model (as in Aiyagari, 1994), can account for the documented stylized consumption inequality facts from the U.S.data"--Federal Reserve Bank of Minneapolis web site.
Improving The Measurement Of Consumer Expenditures
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Author : Christopher D. Carroll
language : en
Publisher: University of Chicago Press
Release Date : 2015-06-16
Improving The Measurement Of Consumer Expenditures written by Christopher D. Carroll and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-16 with Business & Economics categories.
Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present. Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.
Inequality In America
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Author : Uri Dadush
language : en
Publisher: Rowman & Littlefield
Release Date : 2012-06-20
Inequality In America written by Uri Dadush and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-20 with Business & Economics categories.
A bedrock American principle is the idea that all individuals should have the opportunity to succeed on the basis of their own effort, skill, and ingenuity.—Federal Reserve Chairman Ben Bernanke Income inequality has been on the rise since the late 1970s, but the economic and financial crisis of 2008 instigated an unemployment epidemic that dramatically compounded this problem in the United States and catapulted the issue to the center of debate. There is wide agreement across the political spectrum that high inequality is contributing to undesirable circumstances such as stagnant household income, rising poverty rates, and increased borrowing and debt, though there is much less agreement on remedies. Inequality in America provides a snapshot of the issues posed by the growing concentrations of income, focusing on the United States but drawing on international comparisons to help set the context. The authors examine the economic, technological, and political drivers of inequality and identify worrying trends associated with its rise. They demonstrate how specific factors have exacerbated income inequality, including technological change, international trade, changes in labor market participation, and the increasing role of the financial sector. Their clear and concise exposition makes the issues surrounding income distribution accessible to a wider public. As they write in the conclusion: "We have argued that tackling the worst effects of inequality and re-establishing a measure of equal opportunity requires increased investment in crucial public goods: first, education; second, a more progressive and simplified tax system; and third, increased international cooperation to avoid a race to the bottom. Education, tax, and other such policies are pursued by other highperforming advanced countries and can be shaped for the United States in a way that is fully consistent with an efficient and competitive American economy."
Consumption And Social Welfare
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Author : Daniel T. Slesnick
language : en
Publisher: Cambridge University Press
Release Date : 2001
Consumption And Social Welfare written by Daniel T. Slesnick and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Designed to be accessible to noneconomists, it relegates technical details to appendixes."--BOOK JACKET.
Does Income Inequality Lead To Consumption Inequality
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Author : Dirk Krueger
language : en
Publisher:
Release Date : 2002
Does Income Inequality Lead To Consumption Inequality written by Dirk Krueger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Consumption (Economics) categories.
This paper first documents the evolution of the cross-sectional income and consumption distribution in the US in the past 25 years. Using data from the Consumer Expenditure Survey we find that a rising income inequality has not been accompanied by a corresponding rise in consumption inequality. Over the period from 1972 to 1998 the standard deviation of the log of after-tax labor income has increased by 20% while the standard deviation of log consumption has increased less than 2%. Furthermore income inequality has increased both between and within education groups while consumption inequality has increased between education groups but mildly declined within groups. We then argue that these empirical findings are consistent with the hypothesis that an increase in income volatility has been an important cause of the increase in income inequality, but at the same time has lead to an endogenous development of credit markets, allowing households to better smooth their consumption against idiosyncratic income fluctuations. We develop a consumption model in which the sharing of income risk is limited by imperfect enforcement of credit contracts and in which the development of financial markets depends on the volatility of the individual income process. This model is shown to be quantitatively consistent with the joint evolution of income and consumption inequality in US, while other commonly used consumption models are not.