文章基本信息

标题：Consumption inequality and family labor supply
本地全文：下载
作者：Richard Blundell ; Luigi Pistaferri ; Itay Saporta-Eksten 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2014
出版社：European Central Bank
摘要：In this paper we examine the link between wage inequality and consumption inequality using a life cyclemodel that incorporates household consumption and family labor supply decisions. We derive analyticalexpressions based on approximations for the dynamics of consumption, hours, and earnings of two earnersin the presence of correlated wage shocks, non-separability and asset accumulation decisions. We show howthe model can be estimated and identied using panel data for hours, earnings, assets and consumption. Wefocus on the importance of family labour supply as an insurance mechanism to wage shocks and nd strongevidence of smoothing of males and females permanent shocks to wages. Once family labor supply, assetsand taxes are properly accounted for there is little evidence of additional insurance.
关键词：Consumption; Labor Supply; Earnings; Inequality.