Inequality in income, consumption, and wealth is increasing, and inequality in the joint distributions is increasing faster than inequality in any of the single distributions (Fisher, Johnson, Smeeding, and Thompson, 2016b). Relatedly, increases in inequality may be contributing to decreasing intergenerational mobility (Chetty, Grusky, Hell, Hendren, Manduca, and Narang, 2017). No single data set currently allows researchers to examine rising inequality in income, consumption, and wealth simultaneously with changes in intergenerational mobility. In this project, we aim to create such a data set by supplementing the existing data available in the Panel Study of Income Dynamics (PSID), which includes income in every wave since 1968 along with intermittent measures of consumption and wealth.
Funding:
Sage, Russell, Foundation
Funding Period:
04/01/2018 to 03/31/2022