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dc.contributor.authorBlundell, Richarden_US
dc.contributor.authorLow, Hamishen_US
dc.contributor.authorPreston, Ianen_US
dc.date.accessioned2010-02-23en_US
dc.date.accessioned2011-07-04T09:19:11Z-
dc.date.available2011-07-04T09:19:11Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/47483-
dc.description.abstractThis paper concerns the decomposition of income risk into permanent and transitory components using repeated cross-section data on income and consumption. Our focus is on the detection of changes in the magnitudes of variances of permanent and transitory risks. A new approximation to the optimal consumption growth rule is developed. Evidence from a dynamic stochastic simulation is used to show that this approximation can provide a robust method for decomposing income risk in a nonstationary environment. We examine robustness to unobserved heterogeneity in consumption growth and to unobserved heterogeneity in income growth. We use this approach to investigate the growth in income inequality in the UK in the 1980s.en_US
dc.language.isoengen_US
dc.publisherInstitute for Fiscal Studies (IFS) Londonen_US
dc.relation.ispartofseriesIFS working papers 08,13en_US
dc.subject.jelC30en_US
dc.subject.jelD52en_US
dc.subject.jelD91en_US
dc.subject.ddc330en_US
dc.subject.keywordincome risken_US
dc.subject.keywordinequalityen_US
dc.subject.keywordapproximation methodsen_US
dc.subject.keywordconsumptionen_US
dc.subject.stwEinkommensverteilungen_US
dc.subject.stwSoziale Ungleichheiten_US
dc.subject.stwKonsumentenverhaltenen_US
dc.subject.stwRisikoen_US
dc.subject.stwGro├čbritannienen_US
dc.titleDecomposing changes in income risk using consumption dataen_US
dc.typeWorking Paperen_US
dc.identifier.ppn595023800en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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