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Inequality in Consumption Equivalence

  • Christian Zimmermann

    (University of Connecticut)

This paper argues that the conventional inequality measures based on income or wealth give only a partial picture of poverty and the distribution of opportunities. I show how using the consumption equivalence from a value function is more useful, as it better captures the persistence of income and poverty. A series of simulation demonstrates the nuances between different measures. Finally, measures based on empirical work from several countries are calculated and compared.

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File URL: https://www.economicdynamics.org/meetpapers/2012/paper_1002.pdf
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Paper provided by Society for Economic Dynamics in its series 2012 Meeting Papers with number 1002.

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Date of creation: 2012
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Handle: RePEc:red:sed012:1002
Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
Web page: http://www.EconomicDynamics.org/society.htm
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  1. 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.
  2. Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2010. "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States: 1967-2006," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(1), pages 15-51, January.
  3. Brozozowski, Matthew & Gervais, Martin & Klein, Paul & Suzuki, Micho, 2009. "Consumption, income, and wealth inequality in Canada," Discussion Paper Series In Economics And Econometrics 0904, Economics Division, School of Social Sciences, University of Southampton.
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