Heer, Burkhard; Irmen, Andreas; Süssmuth, Bernd - 2020 - Preliminary version: February 27, 2020
The functional income distribution in the US and most OECD countries has been characterized by an increasing capital … income share and a declining wage share over the last decades. We present new evidence for the US economy that this fact is … not only explained by technical change and globalization, but also by the dynamics of capital and labor income taxation …