developed economies. A key stylized fact is that wealth is less equally distributed than income. Financial assets predominate … among the wealthy, while owner-occupied housing is crucial for middle groups, so higher stock prices raise wealth inequality … while house price increases do the opposite. Inheritances exacerbate absolute wealth inequality but reduce rel …

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 …

theoretical prediction of a simple model, determines a much lower amount of savings and wealth accumulation and therefore a lower … degree of insurance. This, in turn, contributes to persistent racial differentials in life-cycle consumption.Starting from … the same position in the consumption distribution Blacks end up in a lower percentile than Whites after a few decades …