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dc.contributor.authorBlundell, Richarden
dc.contributor.authorLow, Hamishen
dc.contributor.authorPreston, Ianen
dc.date.accessioned2010-02-23-
dc.date.accessioned2011-07-04T09:19:11Z-
dc.date.available2011-07-04T09:19:11Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aInstitute for Fiscal Studies (IFS) |cLondonen
dc.relation.ispartofseries|aIFS Working Papers |x08,13en
dc.subject.jelC30en
dc.subject.jelD52en
dc.subject.jelD91en
dc.subject.ddc330en
dc.subject.keywordincome risken
dc.subject.keywordinequalityen
dc.subject.keywordapproximation methodsen
dc.subject.keywordconsumptionen
dc.subject.stwEinkommensverteilungen
dc.subject.stwSoziale Ungleichheiten
dc.subject.stwKonsumentenverhaltenen
dc.subject.stwRisikoen
dc.subject.stwGroßbritannienen
dc.titleDecomposing changes in income risk using consumption data-
dc.typeWorking Paperen
dc.identifier.ppn595023800en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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