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Capitalists in the Twenty-First Century
Smith, Matthew - 2019
How important is human capital at the top of the U.S. income distribution? A primary source of top income is private “pass-through” business profit, which can include entrepreneurial labor income for tax reasons. This paper asks whether top pass-through profit mostly reflects human capital,...
Persistent link: https://www.econbiz.de/10012894999
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Accounting for Business Income in Measuring Top Income Shares : Integrated Accrual Approach Using Individual and Firm Data from Norway
Alstadsæter, Annette - 2016
in place. After a tax reform in 2005 that created strong incentives to retain earnings within businesses, the increase … was massive: accounting for earnings retained in the corporate sector leads to more than doubling of the share of income … of top 0.1% in some years. Furthermore, adjusting for retained earnings stabilizes the composition of the top income …
Persistent link: https://www.econbiz.de/10012978093
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Credit Constraints in Education
Lochner, Lance - 2011
We review studies of the impact of credit constraints on the accumulation of human capital. Evidence suggests that credit constraints are increasingly important for schooling and other aspects of households' behavior. We highlight the importance of early childhood investments, since their...
Persistent link: https://www.econbiz.de/10013120281
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Human Capital, Economic Growth, and Inequality in China
Heckman, James J. - 2012
China's rapid growth was fueled by substantial physical capital investments applied to a large stock of medium skilled labor acquired before economic reforms began. As development proceeded, the demand for high skilled labor has grown, and, in the past decade, China has made substantial...
Persistent link: https://www.econbiz.de/10013106083
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The Economics and Psychology of Inequality and Human Development
Cunha, Flavio - 2010
Recent research on the economics of human development deepens understanding of the origins of inequality and excellence. It draws on and contributes to personality psychology and the psychology of human development. Inequalities in family environments and investments in children are substantial....
Persistent link: https://www.econbiz.de/10012757918
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Sources of Lifetime Inequality
Huggett, Mark - 2010
-- features which are chosen to match observed properties of earnings dynamics by cohorts. We find that as of age 20, differences … in initial conditions account for more of the variation in lifetime utility, lifetime earnings and lifetime wealth than … increase in an agent's human capital affects expected lifetime utility by raising an agent's expected earnings profile, whereas …
Persistent link: https://www.econbiz.de/10012759986
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Why Not Africa?
Freeman, Richard B.; Lindauer, David L. - 2021
Various arguments have been used to explain Sub-Saharan Africa's economic decline. We find that a stress on investments in education as a prerequisite for more rapid growth is misplaced; that greater openness is far from sufficient to insure economic progress; that income inequality and urban bias...
Persistent link: https://www.econbiz.de/10013222904
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Taxation of Human Capital and Wage Inequality : A Cross-Country Analysis
Guvenen, Fatih; Kuruscu, Burhanettin; Ozkan, Serdar - 2021
Wage inequality has been significantly higher in the United States than in continental European countries (CEU) since the 1970s. Moreover, this inequality gap has further widened during this period as the US has experienced a large increase in wage inequality, whereas the CEU has seen only...
Persistent link: https://www.econbiz.de/10013225025
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Human Capital Accumulation and Income Distribution
Fernández, Raquel; Rogerson, Richard - 2021
The non-existence of credit markets implies that initial income is a determinant of who actually obtains an education. We consider the outcome of a process in which income is taxed to provide subsidies for education. and taxes are chosen by majority voting. We characterize the outcome as a...
Persistent link: https://www.econbiz.de/10013225576
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Human Capital and Earnings Distribution Dynamics
Huggett, Mark; Ventura, Gustavo Jaime; Yaron, Amir - 2021
Mean earnings and measures of earnings dispersion and skewness all increase in US data over most of the working life …
Persistent link: https://www.econbiz.de/10013248671