Journal Article

Changes in Income Gaps Might Overstate Changes in Welfare Gaps

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.

Keywords: Income gaps; Welfare gaps;

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: The Regional Economist

Publication Date: 2015

Issue: July

Order Number: 5