August 8, 2017

THERE'S NO SUCH THING AS POVERTY:

Consumption and Income Inequality in the U.S. Since the 1960s (Bruce D. Meyer, James X. Sullivan, 8/17, NBER Working Paper No. 23655)

We examine income inequality between 1963 and 2014 using the Current Population Survey and consumption inequality between 1960 and 2014 using the Consumer Expenditure Survey. We construct improved measures of consumption, focusing on its well-measured components that are reported at a high and stable rate relative to national accounts. While overall income inequality (as measured by the 90/10 ratio) rose over the past five decades, the rise in overall consumption inequality was small.

Posted by at August 8, 2017 5:14 AM

  

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