Relative Wage Movements and the Distribution of Consumption
Orazio Attanasio () and
Steven Davis ()
Journal of Political Economy, 1996, vol. 104, issue 6, 1227-62
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. Copyright 1996 by University of Chicago Press.
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (264) Track citations by RSS feed
Downloads: (external link)
http://dx.doi.org/10.1086/262058 full text (application/pdf)
Access to full text is restricted to subscribers. See http://www.journals.uchicago.edu/JPE for details.
Working Paper: Relative Wage Movements and the Distribution of Consumption (1994)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ucp:jpolec:v:104:y:1996:i:6:p:1227-62
Access Statistics for this article
More articles in Journal of Political Economy from University of Chicago Press
Series data maintained by Journals Division ().