| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16577 |
| 来源ID | Working Paper 16577 |
| The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares | |
| Jonathan A. Parker; Annette Vissing-Jorgensen | |
| 发表日期 | 2010-12-02 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | We document a large increase in the cyclicality of the incomes of high-income households, coinciding with the rise in their share of aggregate income. In the U.S., since top income shares began to rise rapidly in the early 1980s, incomes of those in the top 1 percent of the income distribution have averaged 14 times average income and been 2.4 times more cyclical. Before the early 1980s, incomes of the top 1 percent were slightly less cyclical than average. The increase in income cyclicality at the top is to a large extent due to increases in the share and the cyclicality of their earned income. The high cyclicality among top incomes is found for households without stock options; following the same households over time; for post-tax, post-transfer income; and for consumption. We study cyclicality throughout the income distribution and reconcile with earlier work. Furthermore, greater top income share is associated with greater top income cyclicality across recent decades, across subgroups of top income households, and, in changes, across countries. This suggests a common cause. We show theoretically that increases in the production scale of the most talented can raise both top incomes and their cyclicality. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Macroeconomics ; Consumption and Investment ; Business Cycles ; Financial Economics ; Corporate Finance ; Public Economics ; Taxation ; Labor Economics ; Labor Compensation ; Other ; Accounting, Marketing, and Personnel ; Development and Growth ; Innovation and R& ; D ; Country Studies |
| URL | https://www.nber.org/papers/w16577 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574252 |
| 推荐引用方式 GB/T 7714 | Jonathan A. Parker,Annette Vissing-Jorgensen. The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16577.pdf（418KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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