Dimensions of Inequality in Canada
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 has 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. A comparison of our results - obtained using confidential data - suggests that while some aspects of inequality are well captured by publicly available data, others paint a drastically different picture.
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- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2010.
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- 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.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2008. "The Macroeconomic Implications of Rising Wage Inequality in the United States," NBER Working Papers 14052, National Bureau of Economic Research, Inc.
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- Thomas F. Crossley & Krishna Pendakur, 2002. "Consumption Inequality," Department of Economics Working Papers 2002-09, McMaster University.
- 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.
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