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 … family income that integrate individual earnings, marriage (accounting for marital sorting), and earnings of a spouse (if …

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 … provides non-divisible services to consumers, with physicians our prime example. Examining local income inequality across U …

strong income gradient in tax response within the top, underlining the importance to study even small top groups separately …. Several mechanisms are investigated. Tax-driven income shifting between wage and capital income is important in the very top …

We estimate an income process that is consistent with key facts on individual income risk and its variation over the … business cycle. In particular, the estimated process generates income fluctuations that display (i) flat and acyclical variance … over the life cycle, all consistent with the US data. Furthermore, the income process captures the predictable nature of …

Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels …) exhibit a higher Marginal Propensity to Consume (MPC) in response to transitory income shocks, all else being equal. This … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction …

reduction in homeownership across generations. Lower-income households find it harder to buy housing, and as a result accumulate …

, the gender wage gap has kept shrinking. Both individual- and household-level income inequality have continued to rise at … expenditures has remained remarkably stable over time. Income pooling within the family and redistribution by the government have … downturn in fifty years in which inequality in disposable income and consumption actually declined …

We explore the evolution of income inequality and mobility in the U.S. for a large number of subnational groups defined … by race and ethnicity, using granular statistics describing income distributions, income mobility, and conditional income … find that income inequality and income growth patterns identified from administrative tax records differ in important ways …