Showing 1 - 10 of 1,702
highly public lives, with some achieving superstar status. Despite growing inequality, billionaires face effective tax rates …
Persistent link: https://www.econbiz.de/10014635675
The share of pre-tax income flowing to the top of the UK income distribution increased continually and substantially in … tax records, we describe the nature of top incomes in the UK and how they are taxed. We show that wage income is the … dominant source of pre-tax income, even for highest-income 0.1% of UK adults. But, 'active' business income - derived from self …
Persistent link: https://www.econbiz.de/10013210046
We review research on the dynamics and distribution of individual earnings and family income. We start with univariate earnings models, which dominate the literature and are often used as the exogenous component of family income in structural models of saving. We present a version of the linear...
Persistent link: https://www.econbiz.de/10013210123
Household surveys suffer from persistent and growing underreporting. We propose a novel procedure to adjust reported survey incomes for underreporting by estimating a model of misreporting whose main parameter of interest is the elasticity of regional national accounts income to regional survey...
Persistent link: https://www.econbiz.de/10014512057
Top income inequality in the United States has increased considerably within occupations. This phenomenon has led to a search for a common explanation. We instead develop a theory where increases in income inequality originating within a few occupations can "spill over" through consumption into...
Persistent link: https://www.econbiz.de/10014322754
government growing over time. In particular, largely due to generous government transfers, the COVID recession has been the first …
Persistent link: https://www.econbiz.de/10014322873
This paper studies how household inequality shapes the effects of the zero lower bound (ZLB) on nominal interest rates on aggregate dynamics. To do so, we consider a heterogeneous agent New Keynesian (HANK) model with an occasionally binding ZLB and solve for its fully non-linear stochastic...
Persistent link: https://www.econbiz.de/10014287383
growth derived from the universe of tax filers and W-2 recipients that we observe over a two-decade period (1998-2019). We … find that income inequality and income growth patterns identified from administrative tax records differ in important ways … women fell behind earnings for White men following the Great Recession. This trend lasted through 2019, the end of the data …
Persistent link: https://www.econbiz.de/10014635672
decades. To some observers, this growth of the welfare state is excessive and unwarranted. To others, it is a welcome counter …, welfare outcomes are better than those under alternative budget rules and in scenarios without rules, making it explicit that … the type of budget rule matters for both welfare and equity …
Persistent link: https://www.econbiz.de/10013210072
effects at all. In addition, changes in tax policy since 1950 have led to decreasing progressivity in the overall tax …
Persistent link: https://www.econbiz.de/10012477518