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Replication data for: Consumption Inequality and Partial Insurance
Principal Investigator(s): View help for Principal Investigator(s) Richard Blundell; Luigi Pistaferri; Ian Preston
Version: View help for Version V1
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application/zip | 8.9 MB | 11/11/2024 08:25:AM |
Project Citation:
Blundell, Richard, Pistaferri, Luigi, and Preston, Ian. Replication data for: Consumption Inequality and Partial Insurance. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-11-11. https://doi.org/10.3886/E210782V1
Project Description
Summary:
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This paper examines the link between income and consumption inequality. We
create panel data on consumption for the Panel Study of Income Dynamics using
an imputation procedure based on food demand estimates from the Consumer
Expenditure Survey. We document a disjuncture between income and consumption
inequality over the 1980s and show that it can be explained by changes in
the persistence of income shocks. We find some partial insurance of permanent
shocks, especially for the college educated and those near retirement. We
find full insurance of transitory shocks except among poor households. Taxes,
transfers, and family labor supply play an important role in insuring permanent
shocks. (JEL D12, D31, D91, E21)
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