Family Income Dynamics 1970–2018: Putting the Pieces Together
通过统一框架分解家庭收入中永久性和暂时性变化，发现户主收入的暂时性波动贡献了超过一半的家庭收入不平等，转移收入而非配偶收入是主要缓冲机制。
This paper examines the driving forces of family income dynamics by developing a unified framework to estimate permanent and transitory variation in head earnings, spouse earnings, and transfer income, as well as permanent and transitory correlations between these income sources. A complete decomposition using the PSID 1970–2018 shows that transitory variation in head earnings alone accounts for more than half of the total family income inequality. Insurance against transitory shocks to head earnings comes primarily from transfer income rather than spouse earnings. Both permanent and transitory variations in spouse earnings have an equalizing effect on family income inequality.