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Johnson et al. use PSID data to analyze interplay of consumption, income inequality, and wealth inequality
May 24, 2018
In a study examining how changes in income and wealth affect changes in consumption, and whether these changes are more dramatic at higher or lower levels of wealth, David Johnson et al. use data from the PSID (1999-2013) for the same individuals. Johnson says: “In order to really evaluate the rate of consumption, you have to look at income, consumption and wealth together. The Panel Study of Income Dynamics is the only dataset that has all three.”