increases in wealth inequality have passed through to consumption. Repeating this exercise in the Panel Study of Income Dynamics …A method to impute consumption expenditure inequality between wealth groups in the Survey of Consumer Finances is … provided, allowing for measurement error that is correlated with income and wealth. Identification is derived from observing …

degree of heterogeneity in household preferences or beliefs is sufficient to match empirical measures of wealth inequality in …In a model calibrated to match micro- and macroeconomic evidence on household income dynamics, we show that a modest … macroeconomic models (even ones including some heterogeneity). The high MPC arises because many consumers hold little wealth despite …

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and … households cannot smooth consumption as much as other households do, which further implies that increasing wealth inequality … of Income Dynamics data from 1999 through 2013, we examine whether these changes are more dramatic at higher or lower …