Consumption Inequality and Partial Insurance

被引：563

作者：

Blundell, Richard ^{[1
]}

Pistaferri, Luigi ^{[2
]}

Preston, Ian ^{[1
]}

机构：

[1] UCL, Dept Econ, London WC1E 6BT, England

[2] Stanford Univ, Dept Econ, Stanford, CA 94305 USA

来源：

AMERICAN ECONOMIC REVIEW | 2008年 / 98卷 / 05期

基金：

英国经济与社会研究理事会;

关键词：

D O I：

10.1257/aer.98.5.1887

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the link between income and consumption inequality. We create panel data on consumption for the Panel study of Income dynamics using an imputation procedure based on food demand estimates from. the Consumer Expenditure Survey. We document a disjuncture between income and consumption inequality over the 1980s and show that it can be explained by changes in the persistence of income shocks. We find some partial insurance of permanent shocks, especially for the college educated and those near retirement. We find full insurance of transitory shocks except among poor households. Taxes, transfers, and family labor supply play all important role in insuring permanent shocks.

引用

页码：1887 / 1921

页数：35

共 58 条

[1] ON THE COVARIANCE STRUCTURE OF EARNINGS AND HOURS CHANGES [J].