evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …

We provide evidence that the distributions of consumption, labor income, wealth, and capital income exhibit asymptotic … power-law behavior with a strict ranking of upper tail inequality, in that order, from the least to the most unequal. We … magnitudes of these four tails simultaneously. Mechanisms addressing the wealth concentration puzzle in these models through …