Consumption Inequality

In this essay, we discuss the importance of consumption inequality in the debate concerning the measurement of disparities in economic well-being. We summarize the advantages and disadvantages of using consumption as opposed to income for measuring trends in economic well-being. We critically evalua...

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Bibliographic Details
Published in:The Journal of economic perspectives 2016-04, Vol.30 (2), p.3-28
Main Authors: Attanasio, Orazio P., Pistaferri, Luigi
Format: Article
Language:English
Subjects:
Aggregates
Consumer economics
Consumer goods
Consumer information
Consumer spending
Consumer surveys
Consumers
Consumption
Datasets
Economic models
Economic policy
Economic theory
Economic trends
Expenditures
Food consumption
Household consumption
Households
Income distribution
Income inequality
Inequality
Leisure
Leisure time
Longitudinal studies
Polls & surveys
Prices
Researchers
Studies
Symposium: Inequality Beyond Income
Trends
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Description
Summary:In this essay, we discuss the importance of consumption inequality in the debate concerning the measurement of disparities in economic well-being. We summarize the advantages and disadvantages of using consumption as opposed to income for measuring trends in economic well-being. We critically evaluate the available evidence on these trends, and in particular discuss how the literature has evolved in its assessment of whether consumption inequality has grown as much as or less than income inequality. We provide some novel evidence on three relatively unexplored themes: inequality in different spending components, inequality in leisure time, and intergenerational consumption mobility.
ISSN:0895-3309
1944-7965
DOI:10.1257/jep.30.2.3