Nemmers Prize Lecture
"Household Behavior and The dynamics of inequality"
The lecture will discuss the ways in which evolving inequality in individual wages and earnings passes through into inequality in household income and differences in consumption between households. Specifically, the lecture will examine how families cope with unexpected changes in the earnings of family members. These coping mechanisms include decisions by other household members on whether, and to what extent, they should enter the labor market, and childcare arrangements. The lecture will also discuss how a family’s existing savings influence these decisions, and the role of tax policies and social welfare programs.
About Sir Richard Blundell
Sir Richard Blundell is the David Ricardo Professor of Political Economy at University College London and the research director of the Institute for Fiscal Studies in the United Kingdom. His research covers the empirical microeconomic study of consumer, savings and labor supply behavior.
He has developed micro-data based models for intertemporal decisions over labor supply, human capital and consumption. Blundell also has analyzed family labor supply behavior and the interaction between consumer and labor supply behavior, while developing new microeconometric tools for the study of dynamic panel data models and the nonparametric analysis of individual decisions.He has served as president of the European Economics Association, the Econometric Society, the Society of Labor Economics and, most recently, as president of the Royal Economic Society.
Blundell is a fellow of the Econometric Society, the British Academy and the Institute of Actuaries and an honorary member of the American Economic Association and the American Academy of Arts and Sciences.
He was knighted in the 2014 Queens New Years Honours list for services to Economics and Social Science.
Free parking is available in most campus parking lots after 4pm.
There will be a reception immediately following the lecture.