A primer on the macroeconomic implications of population aging
The composition of the U.S. population will change significantly in coming decades as the decline in fertility rates following the baby boom, coupled with increasing longevity, leads to an older population. This demographic shift will likely have a dramatic effect on the long-run prospects for living standards. Moreover, as has been widely discussed in the media and by policymakers, population aging also has significant implications for social programs for the elderly, such as Social Security and Medicare. In this paper, we discuss the consequences of population aging from a macroeconomic ...
Issues in economics: are lifetime incomes growing more unequal?: looking at new evidence on family income mobility
Since most people judge their well-being by comparison with others, widening inequality of lifetime incomes may threaten our standing as a "land of opportunity."
Just what is the middle class, and other stuff
Say hello to the modest good life for me
Anxiety over middle class living is complex, but probably not as warranted as the hand-wringing might suggest.
Consumption trends suggest middle class continuing to get ahead.
'Voting with your feet' and metro-area livability
Lists of the best places to live in the United States are as controversial and subjective as lists of Oscar nominees. A simple economic principle, though, can make the rankings much more objective and reflective of the average person's views.
Where has all the income gone?
Middle American incomes rise substantially even while inequality increases
Has Middle America stagnated?
A closer look at hourly wages.
Mother and child reunion
An intriguing look into why widows increasingly live alone
Inflation inequality in the United States
Inflation is often assumed to affect all people in the same way. In practice, differences in spending patterns across households and differences in price increases across goods and services lead to unequal levels of inflation for different households. In this paper, we measure the degree of inequality in inflation across U.S. households for the period 1987-2001. ; Our results suggest that the inflation experiences of U.S. households vary significantly. Most of the differences can be traced to changes in the relative prices of education, health care, and gasoline. We find that cost of living ...