"Jobs and Income Growth of Top Earners and the Causes of Changing Income Inequality: Evidence from U.S. Tax Return Data."

摘要: This paper presents summary statistics on the occupations of taxpayers in top percentile national income distribution and fractiles thereof, as well patterns real growth between 1979 2005 for earners each occupation, based information reported U.S. individual tax returns. The data demonstrate that executives, managers, supervisors, financial professionals account about 60 percent 0.1 recent years, can 70 increase share going to 2005. During 1979-2005 there was substantial heterogeneity rates across occupations, significant divergence incomes within among people 1 percent. We consider implications various competing explanations changes inequality have occurred times. then use panel returns spanning years 1987 through 2005, estimate elasticity gross with respect net-of-tax (that is, one minus marginal rate). Information occupation allows us control other influences a flexible way using interactions position distribution, stock prices, housing business cycle. also allow shifting response anticipated changes, long-run effect reform differ from short-run effects, heterogeneous mean-reversion incomes, elasticities classes. In specification does all this, we 0.7 distribution. Outside find no conclusive evidence positive shares. is not robust controlling spline lagged very at upper reaches suggesting method used dynamics important. Allowing has important consequences estimates.