全球智库信息集成服务系统(G2TT): Has Consumption Inequality Mirrored Income Inequality?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w16807
来源ID	Working Paper 16807
	Has Consumption Inequality Mirrored Income Inequality?
	Mark A. Aguiar; Mark Bils
发表日期	2011-02-18
出版年	2011
语种	英语
摘要	We revisit to what extent the increase in income inequality over the last 30 years has been mirrored by consumption inequality. We do so by constructing two alternative measures of consumption expenditure, using data from the Consumer Expenditure Survey (CE). We first use reports of active savings and after tax income to construct the measure of consumption implied by the budget constraint. We find that the consumption inequality implied by savings behavior largely tracks income inequality between 1980 and 2007. Second, we use a demand system to correct for systematic measurement error in the CE's expenditure data. Specifically, we consider trends in the relative expenditure of high income and low income households for different goods with different income (total expenditure) elasticities. Our estimation exploits the difference in the growth rate of luxury consumption inequality versus necessity consumption inequality. This "double-differencing,'' which we implement in a a regression framework, corrects for mis-measurement that can systematically vary over time by good and income group. This second exercise indicates that consumption inequality has closely tracked income inequality over the period 1980-2007. Both of our measures show a significantly greater increase in consumption inequality than what is obtained from the CE's total household expenditure data directly.
主题	Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Compensation
URL	https://www.nber.org/papers/w16807
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/574482
推荐引用方式 GB/T 7714	Mark A. Aguiar,Mark Bils. Has Consumption Inequality Mirrored Income Inequality?. 2011.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w16807.pdf（437KB）	智库出版物		限制开放	CC BY-NC-SA	浏览