Attanasio, O.;
Davis, S.J.;
(1996)
Relative wage movements and the distribution of consumption.
Journal of Political Economy
, 104
(6)
pp. 1227-1262.
10.1086/262058.
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Abstract
The authors analyze how relative wage movements among birth cohorts and education groups affected the distribution of household consumption and economic welfare. Their empirical work draws on the best available cross-sectional data sets to construct synthetic panel data on U.S. consumption, labor supply, and wages during the 1980s. The authors find that low-frequency movements in the cohort-education structure of pretax hourly wages among men drove large changes in the distribution of household consumption. The results constitute a spectacular failure of between-group consumption insurance, a failure not explained by existing theories of informationally constrained optimal consumption behavior.
| Type: | Article |
|---|---|
| Title: | Relative wage movements and the distribution of consumption |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1086/262058 |
| Publisher version: | http://dx.doi.org/10.1086/262058 |
| Language: | English |
| Additional information: | Copyright University of Chicago Press. Please see http://eprints.ucl.ac.uk/15230/ for the NBER Working Paper version |
| Keywords: | JEL classification: D12, J31. Hourly wages, households, wage |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/15224 |
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