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 analyze the distributional effects of monetary policy on income, wealth and consumption. We use administrative … terms of income, wealth and consumption are monotonically increasing in the ex-ante income level. The distributional effects ….g. leverage and risky assets). Our estimates imply that softer monetary policy increases income inequality. …

We develop a new approach to the decomposition of income risk within a non- stationary model of intertemporal choice … of persistent and transitory components in the dynamic process for income. We fo- cus on what can be learned from … repeated cross-section data alone. Evidence from a stochastic simulation of consumption choices in a nonstationarity …

to predict the evolution of a wealth distribution over time. Stochastic labour income follows a deterministic growth …In this paper, we develop and numerically solve a model of idiosyncratic labour income and idiosyncratic interest rates … interest rate implies a stationary long-run wealth distribution, a high interest rate implies non-stationary wealth …