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Consumption, income, and wealth inequality in Canada

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  • Brozozowski, Matthew
  • Gervais, Martin
  • Klein, Paul
  • Suzuki, Micho

Abstract

In this paper we document some features of the distribution of income, consumption and wealth in Canada using survey data from many different sources. We find that wage and income inequality have increased substantially over the last 30 years, but that much of this rise was offset by the tax and transfer system. As a result, the rise in consumption inequality has been relatively mild. We also document that wealth inequality has remained fairly stable since 1999. Using both confidential data and publicly available data, we are able to gauge the extent to which the publicly available data conceals aspects of inequality that confidential data reveals Keywords; income inequality, consumption inequality, wealth inequality JEL Classification: D12, D31

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Bibliographic Info

Paper provided by Economics Division, School of Social Sciences, University of Southampton in its series Discussion Paper Series In Economics And Econometrics with number 0904.

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Date of creation: 01 Jan 2009
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Handle: RePEc:stn:sotoec:0904

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References

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  1. Erich Battistin & Richard Blundell & Arthur Lewbel, 2009. "Why Is Consumption More Log Normal than Income? Gibrat's Law Revisited," Journal of Political Economy, University of Chicago Press, vol. 117(6), pages 1140-1154, December.
  2. Paul Beaudry & David Green, 1997. "Cohort Patterns in Canadian Earnings: Assessing the Role of Skill Premia in Inequality Trends," NBER Working Papers 6132, National Bureau of Economic Research, Inc.
  3. Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2009. "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006," NBER Working Papers 15483, National Bureau of Economic Research, Inc.
  4. Burbidge, John B & Magee, Lonnie & Robb, A Leslie, 1997. "Canadian Wage Inequality over the Last Two Decades," Empirical Economics, Springer, vol. 22(2), pages 181-203.
  5. Jonathan Heathcote, 2003. "The Macroeconomic Implications of Rising Wage Inequality in the United States," Working Papers gueconwpa~03-03-19, Georgetown University, Department of Economics.
  6. Dirk Krüger, 2009. "Inequality Trends for Germany in the Last Two Decades: A Tale of Two Countries," MEA discussion paper series 09184, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  7. Kjetil Storesletten & Chris Telmer & Amir Yaron, 1997. "Consumption and risk sharing over the life cycle," GSIA Working Papers 228, Carnegie Mellon University, Tepper School of Business.
  8. Drolet, Marie & Zhang, Xuelin & Morissette, Rene, 2002. "The Evolution of Wealth Inequality in Canada, 1984-1999," Analytical Studies Branch Research Paper Series 2002187e, Statistics Canada, Analytical Studies Branch.
  9. Richard Blundell & Ben Etheridge, 2010. "Consumption, Income and Earnings Inequality in Britain," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(1), pages 76-102, January.
  10. Picot, Garnett & Green, David A. & Frenette, Marc, 2004. "Rising Income Inequality in the 1990s: An Exploration of Three Data Sources," Analytical Studies Branch Research Paper Series 2004219e, Statistics Canada, Analytical Studies Branch.
  11. Marc Frenette & David A. Green & Kevin Milligan, 2007. "The tale of the tails: Canadian income inequality in the 1980s and 1990s," Canadian Journal of Economics, Canadian Economics Association, vol. 40(3), pages 734-764, August.
  12. Erich Battistin, 2003. "Errors in survey reports of consumption expenditures," IFS Working Papers W03/07, Institute for Fiscal Studies.
  13. Thomas F. Crossley & Krishna Pendakur, 2002. "Consumption Inequality," Department of Economics Working Papers 2002-09, McMaster University.
  14. Fatih Guvenen, 2005. "An Empirical Investigation of Labor Income Processes," Macroeconomics 0508026, EconWPA.
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Citations

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Cited by:
  1. Christian Zimmermann, 2012. "Inequality in Consumption Equivalence," 2012 Meeting Papers 1002, Society for Economic Dynamics.
  2. Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2009. "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006," NBER Working Papers 15483, National Bureau of Economic Research, Inc.
  3. Jeremy Lise & Nao Sudo & Michio Suzuki & Ken Yamada & Tomoaki Yamada, 2013. "Wage, Income and Consumption Inequality in Japan, 1981-2008: from Boom to Lost Decades," Working Papers 2013-011, Human Capital and Economic Opportunity Working Group.
  4. Salverda, Wiemer & Checchi, Daniele, 2014. "Labour-Market Institutions and the Dispersion of Wage Earnings," IZA Discussion Papers 8220, Institute for the Study of Labor (IZA).
  5. Virginia Maestri & Andrea Roventini, 2012. "Inequality and Macroeconomic Factors: A Time-Series Analysis for a Set of OECD Countries," Working Papers 34/2012, University of Verona, Department of Economics.
  6. Virginia Maestri & Roventini, A. (Andrea), 2012. "GINI DP 30: Stylized Facts on Business Cycles and Inequality," GINI Discussion Papers 30, AIAS, Amsterdam Institute for Advanced Labour Studies.
  7. David Pacini, 2012. "Least Square Linear Prediction with Two-Sample Data," Bristol Economics Discussion Papers 12/631, Department of Economics, University of Bristol, UK.
  8. Gabriele Ballarino & Francesco Bogliacino & Michela Braga & Massimiliano Bratti & Daniele Checchi & Antonio Filippin & Virginia Maestri & Elena Meschi & Francesco Scervini, 2012. "GINI Intermediate Report WP 3: Drivers of Growing Inequality," GINI Discussion Papers wp3, AIAS, Amsterdam Institute for Advanced Labour Studies.
  9. Hooi Hooi Lean & Ma. Rebecca Valenzuela, 2012. "Inequality in Australia 1983-2004: A Stochastic Dominance Approach," Development Research Unit Working Paper Series 06-12, Monash University, Department of Economics.
  10. Perugini, Cristiano & Hölscher, Jens & Collie, Simon, 2013. "Inequality, credit expansion and financial crises," MPRA Paper 51336, University Library of Munich, Germany.
  11. Lilia Karnizova & Hashmat Khan, 2010. "The Stock Market and the Consumer Confidence Channel in Canada," Working Papers 1004E, University of Ottawa, Department of Economics.
  12. Lori J. Curtis & Kathleen Rybczynski, 2013. "Exiting Poverty: Does Sex Matter?," Working Papers 1307, University of Waterloo, Department of Economics, revised Sep 2013.
  13. Skopek, Nora & Buchholz, Sandra & Blossfeld, Hans-Peter, 2011. "Wealth inequality in Europe and the delusive egalitarianism of Scandinavian countries," MPRA Paper 35307, University Library of Munich, Germany.
  14. Gimenez-Nadal, Jose Ignacio & Sevilla, Almudena, 2012. "Trends in time allocation: A cross-country analysis," European Economic Review, Elsevier, vol. 56(6), pages 1338-1359.

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