Has Consumption Inequality Mirrored Income Inequality?
We revisit to what extent the increase in income inequality since 1980 was mirrored by consumption inequality. We do so by constructing an alternative measure of consumption expenditure using a demand system to correct for systematic measurement error in the Consumer Expenditure Survey. Our estimati...
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| Veröffentlicht in: | The American economic review 2015-09, Vol.105 (9), p.2725-2756 |
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| container_title | The American economic review |
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| creator | Aguiar, Mark Bils, Mark |
| description | We revisit to what extent the increase in income inequality since 1980 was mirrored by consumption inequality. We do so by constructing an alternative measure of consumption expenditure using a demand system to correct for systematic measurement error in the Consumer Expenditure Survey. Our estimation exploits the relative expenditure of high- and low-income households on luxuries versus necessities. This double differencing corrects for measurement error that can vary over time by good and income. We find consumption inequality tracked income inequality much more closely than estimated by direct responses on expenditures. |
| doi_str_mv | 10.1257/aer.20120599 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0002-8282 |
| ispartof | The American economic review, 2015-09, Vol.105 (9), p.2725-2756 |
| issn | 0002-8282 1944-7981 |
| language | eng |
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| source | EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing; American Economic Association |
| subjects | Bias Consumer economics Consumer spending Consumers Consumption Elasticity of demand Entertainment Estimates Expenditures Food High income Household consumption Households Income estimates Income inequality Income taxes Low income groups Relative prices Savings rates Total expenditures Trends |
| title | Has Consumption Inequality Mirrored Income Inequality? |
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