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Changes in Income Gaps Might Overstate Changes in Welfare Gaps

Author

Listed:
  • Juan M. Sanchez
  • Lijun Zhu

Abstract

Changes in income of rich and poor households might overstate changes in welfare because the cost of goods favored by the rich is rising faster than the cost of goods consumed mainly by the poor and middle class.

Suggested Citation

  • Juan M. Sanchez & Lijun Zhu, 2015. "Changes in Income Gaps Might Overstate Changes in Welfare Gaps," The Regional Economist, Federal Reserve Bank of St. Louis, issue July.
  • Handle: RePEc:fip:fedlre:00083
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    Keywords

    Income gaps; Welfare gaps;

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