Income Dynamics and Life-cycle Inequality: Mechanisms and Controversies
研究在职生涯中不平等如何传递，通过跨期选择模型分析工资、收入与消费的动态分布，并探讨信贷、家庭劳动供给和税收等保险机制在不同生命周期和商业周期中的作用。
This study focuses on the transmission of inequality over the working life. A model of constrained intertemporal choice is used to provide structure to the distributional dynamics of wages, earnings, income and consumption. The mechanisms used to insure labour market shocks are examined in a partial‐insurance setting where the manner and scope for insurance depends on the access to credit, the information available to consumers and the durability of income shocks. Drawing on recent research, family labour supply, the credit market and the tax system are all shown to play a key role. These mechanisms vary in importance across different points of the life cycle and the business cycle.