Income Dynamics and Life-cycle Inequality : Mechanisms and Controversies *

  title={Income Dynamics and Life-cycle Inequality : Mechanisms and Controversies *},
  author={Richard W. Blundell},
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… CONTINUE READING


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