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Cited by 846

The DOI matches its Crossref record; 52 of the 52 references it cites were found in a registry or an index.

Consumption inequality and partial insurance

Blundell, Richard, Pistaferri, Luigi, Preston, Ian·2004·Working Paper Series
DOI 10.1920/wp.ifs.2004.0428
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Abstract

This paper describes the transmission of income inequality into consumption inequality and in so doing investigates the degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX cross-sections and distinguishes between permanent and transitory income shocks. We find some partial insurance of permanent income shocks with more insurance possibilities for the college educated and those nearing retirement. We find little evidence against full insurance for transitory income shocks except among low income households. Tax and welfare benefits are found to play an important role in insuring permanent shocks. Adding durable expenditures to the consumption measure suggests that durable replacement is an important insurance mechanism, especially for transitory income shocks.

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Metadata

Authors
Blundell, R., Pistaferri, L., & Preston, I.
Venue
Working Paper Series
Publisher
Institute for Fiscal Studies
Published
2004-11-03
ISSN
1742-0415
DOI
10.1920/wp.ifs.2004.0428
OpenAlex
W2138238248
Cited by
846
References
52
Type
report
Language
en
Open access
closed

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