Has Consumption Inequality Mirrored Income Inequality?
通过构建替代消费支出指标，纠正消费者支出调查中的系统测量误差，发现1980年以来消费不平等与收入不平等的同步程度比直接调查数据所显示的更紧密。
We revisit to what extent the increase in income inequality since 1980 was mirrored by consumption inequality. We do so by constructing an alternative measure of consumption expenditure using a demand system to correct for systematic measurement error in the Consumer Expenditure Survey. Our estimation exploits the relative expenditure of high- and low-income households on luxuries versus necessities. This double differencing corrects for measurement error that can vary over time by good and income. We find consumption inequality tracked income inequality much more closely than estimated by direct responses on expenditures.