Two Views of Inequality over the Life Cycle
利用美国30年数据，分析工资、收入、工时和消费不平等随年龄变化的趋势，发现是否控制队列效应或时间效应对估计结果影响巨大，且时间效应是解释不平等趋势的关键。
Data on the life-cycle profiles of inequality in wages, earnings, hours worked, and consumption contain precious information for answering questions about the ability of households to insure labor market risk and about the sources of this risk. This paper demonstrates that the choice of whether to control for cohort effects or for time effects has a drastic impact on the estimated age profiles for inequality and, thus on the answers to those questions. It also shows that time effects are required to account of the observed trends in inequality in 30 years of U.S. data, whereas there is no evidence that cohort effects have been important.