Add to ORKGThis paper concerns the decomposition of income risk into perma-nent and transitory components using repeated cross-section data on income and consumption. Our focus is on the detection of changes in the magnitudes of variances of permanent and transitory risks. A new approximation to the optimal consumption growth rule is developed. Evidence from a dynamic stochastic simulation is used to show that this approximation can provide a robust method for decomposing in-come risk in a nonstationary environment. We examine robustness to unobserved heterogeneity in consumption growth and to unobserved heterogeneity in income growth. We use this approach to investigate the growth in income inequality in the UK in the 1980s
This paper uses panel data on household consumption and income to evaluate the degree of insurance t...
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in ...
Idiosyncratic household income is typically assumed to consist of several components. While the tota...
This paper concerns the decomposition of income risk into perma-nent and transitory components using...
This paper concerns the decomposition of income risk into perma-nent and transitory components using...
We develop a new approach to the decomposition of income risk within a nonstationary model of intert...
This paper assesses the accuracy of decomposing income risk into permanent and transitory components...
This paper assesses the accuracy of decomposing income risk into permanent and transitory components...
This paper places the debate over using consumption or income in studies of inequality growth in a f...
This paper places the debate over using consumption or income in studies of inequality growth in a f...
We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increase...
Recent research on household `vulnerability' has led to an increased appreciation of the welfare cos...
We use CEX repeated cross-section data on consumption and income, to evalu-ate the nature of increas...
In a standard model of earnings dynamics, we allow heterogeneous earnings risk to depend on unobserv...
This Paper uses panel data on household consumption and income to evaluate the degree of insurance t...
This paper uses panel data on household consumption and income to evaluate the degree of insurance t...
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in ...
Idiosyncratic household income is typically assumed to consist of several components. While the tota...
This paper concerns the decomposition of income risk into perma-nent and transitory components using...
This paper concerns the decomposition of income risk into perma-nent and transitory components using...
We develop a new approach to the decomposition of income risk within a nonstationary model of intert...
This paper assesses the accuracy of decomposing income risk into permanent and transitory components...
This paper assesses the accuracy of decomposing income risk into permanent and transitory components...
This paper places the debate over using consumption or income in studies of inequality growth in a f...
This paper places the debate over using consumption or income in studies of inequality growth in a f...
We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increase...
Recent research on household `vulnerability' has led to an increased appreciation of the welfare cos...
We use CEX repeated cross-section data on consumption and income, to evalu-ate the nature of increas...
In a standard model of earnings dynamics, we allow heterogeneous earnings risk to depend on unobserv...
This Paper uses panel data on household consumption and income to evaluate the degree of insurance t...
This paper uses panel data on household consumption and income to evaluate the degree of insurance t...
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in ...
Idiosyncratic household income is typically assumed to consist of several components. While the tota...